Bank of China unveils new e-CNY smart contract test program for school education
Under the pilot test, parents could enroll their children in after-school vocation programs via smart contracts. According to local news outlet Sohu.com, on Tuesday, the state-owned Bank of China announced a new program to bridge primary school education with smart contracts. In a combined partnership with local education and financial authorities, parents residing in the city of Chengdu, located in China's Sichuan province, will be able to enroll their children in after-school or extracurricular lessons using the digital yuan central bank digital currency, or e-CNY.Under the pilot test,....
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More than 20 years ago, Nick Szabo proposed the use of a 'smart contract' to reduce fraud and enforcement costs associated with traditional paper contracts. His smart contract would be implemented as a “computerized transaction protocol that executes the terms of a contract” – in other words, a computer program. Like any other software, a 'smart contract' computer program would receive inputs, run a series of program steps, and supply outputs. For example, the smart contract could wait for a predetermined condition to occur (eg: a stock reaches a particular price), automatically deem the....
As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public consultations on its....
High school students in Georgia look set to be taught about crypto after a new financial literacy program was approved by the Georgia House of Representatives. The Georgia House of Representatives has passed a bill that calls for state education officials to implement a study program based around financial literacy for high schoolers — and cryptocurrency is on the curriculum list.The bill passed the lower chamber of Georgia on March 8 by a vote of 169-2. The bill was sponsored by six Republican candidates and has been sent to the Senate for further deliberation. The program outlines 16....
Education and blockchain – two worlds that seem as though they have nothing in common, are being brought together in the form of Waves School, built on the Waves blockchain. Waves School is tackling the high barriers of entry into higher education as well as into the crypto world, through the launch of their one […]
Over 4,567,000 merchants across the country now accept the e-CNY as payment. According to China's state institution Xinhua News Agency, Lan Zou, head of monetary policy at the People's Bank of China (PBoC), announced that the country would be expanding the number of digital yuan (e-CNY) test sites in the country from 11 to 23. They are spread out across 15 out of 31 of China's provinces and autonomous regions. The PBoC is China's central bank and is responsible for the development of the e-CNY central bank digital currency, or CBDC. During Wednesday's press conference, Zou praised the....