Smart Contract
CBDC achieves programmability by loading smart contracts that do not affect currency functions, and can automatically perform payment transactions according to the rules agreed by the transaction parties to promote business model innovation. It is a computer protocol that disseminates, verifies or executes contracts in an informationized manner, allowing trusted and irreversible traceable transactions without a third party.
Smart contracts have the advantages of transparency, credibility, automatic execution and compulsory performance. When combined with legal digital currencies, they can be applied to conditional payments, timed payments and other business scenarios, which is conducive to exerting currency intelligence.
IBDT can provide CBDC scenario services for users such as smart contract acceptance and smart contract management. Relying on CBDC technology, through the smart contract and digital wallet system, it focuses on the research and development of smart contract enabling financial business scenarios.
Specifically, CBDC smart contracts are divided into atomic layer contracts and business layer contracts, referred to as atomic contracts and business contracts in application implementation:
Atomic contracts are contracts that provide CBDC fund processing services for smart contracts.
The central bank reviews and approves the atomic contract. The operating institution develops and deploys the business contract. The atomic contract and the business contract jointly complete the CBDC transaction through information interaction.
