By Cointelect
INDONEWS — The Massachusetts Institute of Technology (MIT), through its Digital Currency Initiative (DCI), has officially introduced an experimental platform named PArSEC (parallelized architecture for scalably executing smart contracts). Designed with central bank digital currencies (CBDCs) in mind, this platform aims to offer flexibility and efficiency in the evolving digital finance space.
A key highlight of PArSEC is its impressive transaction processing speed. In testing, the platform achieved 118,000 ERC-20 transactions per second across 128 hosts — surpassing the performance of most existing public, permissionless blockchains. This level of scalability suggests that PArSEC could play a major role in cross-border transactions, supply chain innovation, and regulatory compliance automation.
Beyond supporting ERC-20 tokens, PArSEC creates opportunities for automated market makers (AMMs) to handle assets like bonds, tokenized securities, and repurchase agreements — not just CBDCs. Its integration with virtual machines also promises to streamline interactions between central banks and commercial financial institutions.
However, MIT developers acknowledge that several challenges remain. They highlight security, key management, data migration, and especially privacy as areas requiring further research and refinement.
Privacy has become a major flashpoint in the global CBDC debate, especially among the crypto community, which tends to view central bank-backed digital currencies with skepticism. Meanwhile, the programmability of CBDCs — a key focus of PArSEC — brings its own controversy.
According to the official summary, MIT chose to focus on smart contracts because they provide “the highest degree of expressivity and functionality” for users. But some critics argue that programmability could open the door to government overreach — for example, by restricting purchases or applying negative interest rates — even though such features could be useful in decentralized finance (DeFi) environments.
Some analysts also suggest that developers should explore the untapped potential of stablecoins rather than trying to compete directly with CBDC initiatives.
With the launch of PArSEC, all eyes are now on whether this innovation can bridge the gap between the crypto world and the traditional financial system — or whether it will intensify the debate over the future of global digital currencies.
Sumber: https://cointelegraph.com/news/mit-digital-currency-initiative-introduces-at-scale-programmable-cbdc-platform
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