The branch of the Agricultural Bank of China (ABC) has launched an innovative pilot program that allows customers to make prepayments for cars using smart contracts. The main goal of the program is to create a favorable business environment and reliable protection of consumer rights. In February 2024, the first group of buyers successfully used this system to purchase new cars, paying for them with digital yuan (DCEP) at the Shenzhen Haodi car dealership in Shenzhen.

Smart contracts ensure the security of the deposits made and simplify the purchasing process by eliminating the need for intermediaries. The system allows for detailed transaction terms to be set and monitored for compliance, reducing the risk of fraud and improving control over car dealer activities. All asset movements are tracked on the blockchain.

The process works as follows: the buyer makes a prepayment through a smart contract, and the funds are locked until the car is delivered. Once the car is delivered to the dealer, stablecoins are automatically transferred, and the transaction terms are considered fulfilled.

In the Pingshan area, where the Haodi car dealership is located, a "Worry-Free Prepayment Zone" has been established, where about 50% of business organizations have signed agreements with banks to accept payments in stablecoins. These include dining establishments, educational, and professional institutions. Local regulatory authorities have expressed their intention to continue using stablecoins and smart contracts in collaboration with financial institutions to develop the region's economy.