The Massachusetts Institute of Technology Digital Currency Initiative has introduced the experimental Parallelized Architecture for Scalably Executing Smart Contracts platform. The platform is open-source and developed with central bank digital currency in mind.
The platform required “significant” amounts of continuing research, the developers said. They pointed to security, key management, and data migration tooling as areas that required refinement. Privacy was also left as an open question.Privacy of CBDCs is a particularly painful point for the crypto community, which is largely opposed to any form of CBDC. Programmability is no less controversial.
That functionality is exactly what many in the crypto community objects to. Crypto researcher Nikhil Raghuveera“Programmability allows for asset backing and decentralization that is not possible under current CBDC designs. Developers should be taking advantage of the programmable opportunities that stable[coin] assets offer rather than trying to compete with CBDCs.”
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