China's central bank outlines eight core services of digital yuan system
- —Eight services cover payments, liquidity, issuance, smart contracts, assets, wallets, data and risk control
- —System is described as digitalized, connected, low-cost, productive and fast-iterating
- —Smart contracts follow unified standards, machine enforcement, openness, rules and security
- —Execution and data are protected and traceable for verification
Why it matters: Beijing is detailing e-CNY as a global payments infrastructure, sharpening competition with private stablecoins.
Source: PANews
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