blockchain – Are there smart contracts on Ripple platform?


Let’s say I want to create my own digital bank. I would like to build some custom logic for every transaction into the protocol. For instance, the Central Authority takes custom fees. It also has the ability to issue and burn tokens. In Ethereum this is done with smart contracts.

How can this be done in Ripple?

I was able to find some information regarding the Codius project, which was halted in 2015. Seems like Ripple launches Ethereum smart contracts on the Flare network now. Will this work like a second layer network? Can this be considered real smart contracts? How to test this out?