January 27, 2023

Digital Yuan Platform Starts Supporting Smart Contracts

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1 min.

Digital Yuan Platform Starts Supporting Smart Contracts

The platform of the Chinese state cryptocurrency has been updated. An important innovation was the support for smart contracts, which provide several new uses for the digital yuan.

One of the first support for smart contracts wasadded to the app for buying and delivering food from Meituan Chinese restaurants. When users place an order and pay for it with the digital yuan, the smart contract automatically searches for keywords in the product list. If the user buys something from the key list, then he is automatically added to the list of participants in the Chinese New Year prize draw.

On January 16, the digital yuan was first usedto buy securities. Support for the state cryptocurrency has been added to the mobile application of the brokerage company Soochow Seurities. In addition, the update to the Android app gives users the option of contactless payment, even when there is no Internet connection.

At the end of last year, one of the former heads of the People's Bank of China Xie Ping (Xie Ping) said that, despite all efforts, the digital yuan has not gained popularity among the population of China.