According to news from PANews on August 3, according to Cointelegraph, the Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) launched an experimental PArSEC platform. PArSEC (short for "Parallel Architecture for Scalable Execution of Smart Contracts") is open source and developed with central bank digital currencies (CBDCs) in mind.

The developers emphasized the platform's speed. They said it performed 118,000 ERC-20 transactions per second across 128 hosts, more than public permissionless blockchains. As such, the platform is capable of handling cross-border contracting and can also be used for innovative supply chains and compliance checks. PArSEC supports ERC-20 tokens, so automated market makers launched on the platform can trade against assets such as bonds, tokenized securities, and repurchase agreements other than CBDC. Since it supports virtual machines, it will simplify the interaction between the central bank and commercial banks.
The developers said that they need to continue to do a lot of research on the platform, and that the platform's security, key management, data migration tools, privacy, etc. need to be improved.