Dynamics Analysis of Smart Contract Enabled Advance Payment Regulation—Based on Payment Choice Perspective

doi:10.11871/jfdc.issn.2096-742X.2026.01.002

Abstract

Abstract:

[Objective] Under the perspective of payment choice, it is important to explore the strategy evolution rules of consumers, merchants, and the government at different stages of the prepaid consumption market of smart contract application, which is important for the long-term mechanism of preventing fund misappropriation and regulating the destination of funds. [Methods] Taking consumers’ prepaid payment method as the entry point, we constructed a three-party evolutionary game model among consumers, merchants, and the government, and simulated and analyzed the stability of the equilibrium strategy combinations of the game system as well as the influence relationship of the parameters by using Matlab 2021a. [Results] This paper shows that under different scenarios of smart contract application in the prepaid consumer market, the evolutionary system evolves and eventually stabilizes towards {traditional payment, no runaway, loose regulation}, {traditional payment, no runaway, strict regulation}, and {CBDC payment, no runaway, strict regulation}, respectively, and the simulation results further validate the stability of the equilibrium of the evolutionary equilibrium in different stages. [Conclusions] Government departments adopt more flexible and dynamic platform regulatory measures and guide consumers to actively use CBDC for prepaid payment, which is conducive to realizing the healthy development and stable operation of the smart contract-enabled prepaid market.

Key words: smart contracts, Central Bank Digital Currency(CBDC), prepayment regulation, evolutionary game

ZHU Xiaoling,ZHU Jianming. Dynamics Analysis of Smart Contract Enabled Advance Payment Regulation—Based on Payment Choice Perspective[J]. Frontiers of Data and Computing, 2026, 8(1): 14-26, https://cstr.cn/32002.14.jfdc.CN10-1649/TP.2026.01.002.

Figures/Tables 11

Fig.1

Table 1

Tripartite payment matrix for consumers, merchants and governments"

		政府严格监管z	政府宽松监管1-z
消费者CBDC 支付x	商家 “不跑路 ”y	$A 1 - P + V 1$	$V 1 - P$
		$P + R 2 + A 2$	$P + R 2$
		$W + E 1 - C 2 - A 1 - A 2$	$W - E 2 - C 3$
	商家 “跑路” 1-y	$A 1 + V 2 + α (M - C 1)$	$V 2 - α C 1$
		$R 2 - α M - F - L$	$R 2 - F - L$
		$W + E 1 - C 2 - A 1 + F$	$W - E 2 - C 3 + F$
消费者传统支付 1-x	商家 “不跑路” y	$V - P + V 1$	$V - P + V 1$
		$P - V + A 2$	$P - V$
		$W + E 1 - C 2 - A 2$	$W - E 2 - C 3$
	商家 “跑路” 1-y	$V - P + V 2 + α (M - C 1)$	$V - P + V 2 - α C 1$
		$P - V - α M - F - L + R 1$	$P - V - F - L + R 1$
		$W + E 1 - C 2 + F$	$W - E 2 - C 3 + F$

Table 1

Fig.2

Fig.3

Fig.4

Table 2

Equilibrium point stability analysis"

均衡点	特征根	特征值符号	稳定性	条件
E₁(0,0,0)	P-V，F+L-R₁，C₃-C₂+E₁+E₂	（+，-，-）	不稳定
E₂(1,0,0)	V-P，F+L+P，C₃-C₂-A₁+E₁+E₂	（×，+，×）	不稳定
E₃(0,1,0)	-V，R₁-F-L，C₃-C₂-A₂+E₁+E₂	（-，-，-）	ESS	①②
E₄(0,0,1)	A₁-V+P，A₂+F+L-R₁+ $α$ M，C₂-C₃-E₁-E₂	（+，-，-）	不稳定
E₅(1,1,0)	V，-F-L-P，C₃-A₂-C₂-A₁+E₁+E₂	（+，-，×）	不稳定
E₆(1,0,1)	V-P-A₁，A₂+P+ F+ L+ $α$ M，A₁+C₂-C₃-E₁-E₂	（×，+，×）	不稳定
E₇(0,1,1)	A₁-V，R₁-A₂-F-L- $α$ M，A₂+C₂-C₃-E₁-E₂	（-，-，-）	ESS	③④⑤
E₈(1,1,1)	V-A₁，-A₂-F-L-P- $α$ M，A₁+A₂+C₂-C₃-E₁-E₂	（-，-，-）	ESS	⑥⑦

Table 2

Table 3

Parameters of the stages in the evolutionary game model"

	V	P	A₁	M	R₁	R₂	A₂	F	L	E₁	E₂	C₂	C₃	$α$
E₃(0,1,0)	20	10	5	10	20	5	10	15	10	20	30	150	120	0.2
E₇(0,1,1)	20	50	5	10	30	5	30	15	10	60	30	200	150	0.2
E₈(1,1,1)	20	50	30	10	30	5	30	15	10	100	30	200	150	0.2

Table 3

Fig.5

Fig.6

Fig.7

Fig.8

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