Bank of China Launches e-CNY Smart Contract Program for Primary Education
The Bank of China has launched a new program in Chengdu, Sichuan province, allowing primary school children to enroll in after-school programs using the digital yuan (e-CNY). This initiative, in partnership with local education and financial authorities, uses smart contracts to manage payments. Parents pay a deposit, and if a child misses a lesson, the e-CNY is automatically refunded. The program aims to enhance transaction transparency and liquidity, with zero transaction fees. Previously, the Bank of China used e-CNY in an airdrop program to promote sustainable activities. Currently, over 4.5 million merchants in China accept e-CNY, highlighting the country’s digital economy efforts.
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