Chinese Parents to Use Digital CNY 'Smart Contracts' to Pay for After-school Lessons ⋆ ethereum today news bitcoin and crypto altcoins blockchain

A Chinese state-owned commercial bank is set to pilot a digital yuan-powered "smart contract solution" that allows elementary school parents to pay for their children's education using the e-CNY. The initiative, per the media outlet The Cover, is the brainchild of the Bank of China, one of the "big four" state-owned commercial Chinese banks. The project is being carried out in the city of Chengdu, in China's central Sichuan Province. The bank has teamed up with Chengdu's education and financial authorities and will let parents pay for their children's pre- and after-school clubs, sports lessons, and extracurricular lessons using the…