According to Caixin, the smart contracts of the digital yuan are not the same as the "on-chain" smart contracts that became famous through Ethereum and are built on blockchain. The digital yuan is based on a newly designed account system and a set of infrastructure, in which the central bank and commercial banks jointly maintain "one unified ledger," forming a unified ledger platform. The digital yuan belongs to a non-blockchain smart contract system. As long as transactions occur within the closed-loop system of the digital yuan, automated and mandatory enforcement of payments can be achieved.