Bank of China Introduces Latest e-CNY Smart Contract For Primary Students

The state-owned Bank of China on Tuesday announced a new program bridging primary school education with smart contracts, reported a local news outlet Sohu.com. Now, the residents of Chengdu, a Sichuan city located in Sichuan, a Chinese province, can enroll their children in after-school or extracurricular lessons using e-CNY, a central bank digital cryptocurrency. It is made possible through the collaboration between financial authorities and local education. To the unfamiliar, China has adopted a dual or two-tier operational system for e-CNY, with the commercial institutions and the central bank, on each tier. The People's Bank of China is in-charge of…