Bank of China Launches Digital RMB Smart Contract

The Chinese majority state-owned commercial bank, the Bank of China, has launched a program to create a bridge between elementary school education and smart contracts. Based on a news release from Sohu.com, ultimately, the deal is a collaboration between local education authorities, financial agencies, and the parents of the interested students. Interestingly, the program utilizes the renminbi smart contract pilot network which was recently launched. Meanwhile, the digital renminbi smart contract technology is laced with numerous advantages. Amongst which is transparency, reliability, automatic execution, as well as mandatory contract performance. The Bank of China Sichuan Branch together with the guidance…