PANews January 19 News, according to Caixin.com, a person familiar with digital renminbi technology revealed that the digital renminbi based on account system smart contracts is similar to smart contracts on public blockchains; both are essentially “conditional trigger automatic execution code.” The difference lies in whether they have full Turing completeness. The digital renminbi’s account system smart contracts are limited Turing complete, with programming strictly restricted within the template scripts approved by the central bank, supporting only preset, simple conditional trigger functions. This design is mainly for security and risk control considerations. The development of digital renminbi smart contracts supports multiple programming languages, including fully Turing complete languages like Ethereum’s Solidity, so technically it is not an issue. However, the core challenge is how to design a standard access and auditing mechanism that can be accepted by the financial system.
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