January 19th – Per Caixin, a tech expert familiar with the central bank digital currency (CBDC) has revealed that the digital currency relies on account-based smart contracts. These contracts, like those on public blockchains, are essentially “condition-triggered auto-executing code,” with the key difference being full Turing completeness. The CBDC’s account-based smart contracts are Turing-complete but restricted: programming is strictly limited to central bank-approved template scripts, supporting only preset simple conditional triggers. This design prioritizes security and risk control. While CBDC smart contract development supports multiple languages — including Ethereum’s Solidity and other Turing-complete languages — there are no technical hurdles. The core challenge, however, lies in designing standard access and audit mechanisms acceptable to the financial system.
