Central Bank Mu Changchun: Central Bank digital currency will load smart contracts that are conducive to currency functions

Babbitt News, Deputy Director of the Payment and Settlement Department of the People's Bank of China, Mu Changchun, said at the China Financial Forty Forum that the central bank's digital currency is about to be launched and will adopt a two-tier operating system, that is, the upper layer is the People's Bank of China and the second layer is commercial. mechanism. He also stressed the attitude towards smart contracts, he said that the Chinese central bank's digital currency can load smart contracts. What needs to be emphasized here is that the central bank's digital currency is still a currency with unlimited compensation characteristics, which is an alternative to M0. Its monetary function (transaction medium, value storage, accounting unit) determines that if it is loaded with a smart contract that exceeds its monetary function, it will degenerate it into a valuable ticket, reduce the degree of usability, and internationalize the RMB. It has an adverse effect, so we will load smart contracts that are good for the monetary function, but we will remain more cautious about smart contracts that exceed the monetary function.