Caixin: The digital yuan is distinct from Ethereum’s smart contracts; WeChat, Alipay, and others will gradually receive wallet opening permissions

Beginning January 1st, interest will start accumulating on digital yuan wallet balances. Only wallets with real-name authentication (types one, two, and three) will be eligible for interest.

Unlike Ethereum’s smart contracts built on blockchain, the digital yuan employs a newly designed account system, enabling programmability and supported payments.