MIT's Digital Currency Initiative has launched an open-source platform called PARSEC, designed with central bank digital currency (CBDC) in mind. The platform supports ERC-20 tokens and can handle cross-border contracting, making it suitable for supply chains and compliance checks. PARSEC performed 118,000 ERC-20 transactions per second on 128 hosts, exceeding public permissionless blockchains. However, the developers noted that the platform required further research in areas such as security, key management, and data migration tooling, and privacy remained an open question.