A new Chinese homegrown enterprise blockchain Chang’an Chain will be integrated with the digital yuan following an agreement between the central bank’s Digital Currency Research Institute and the Beijing Academy of Blockchain and Edge Computing (BABEC).
China’s central bank digital currency (CBDC) does not use blockchain at its core because the technology was deemed to be insufficiently scalable.
The blockchain collaboration aims to use the digital renminbi as smart money by adding programmable characteristics. Together the organizations plan to explore new transaction and business models.
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