Deutsche Bank Builds Layer-2 Blockchain on Ethereum for Regulation

user avatar

by Giorgi Kostiuk

2 years ago

Deutsche Bank's project to create a Layer-2 blockchain aims to solve regulatory challenges arising from the use of public blockchains in finance.

Introduction to Project Dama 2

In November, Deutsche Bank introduced a test version of 'Project Dama 2,' an asset-servicing pilot incorporating a Layer 2 solution. This technology leverages public blockchains while enabling more cost-effective and efficient transactions.

Innovative Technologies of Dama 2

Deutsche Bank's Layer 2 system integrates with Ethereum and uses ZKsync technology, developed in collaboration with crypto firms Memento Blockchain Pte. and Interop Labs. The new approach allows banks to experiment with public blockchains by establishing a 'more bespoke list of validators' for processing digital assets.

Partnerships and Future of Deutsche Bank's Blockchain

In December, Deutsche Bank announced a partnership with Crypto.com to provide banking services across Asia-Pacific markets, including Singapore, Australia, and Hong Kong. The bank will offer fiat-to-crypto exchange and cross-border trading services.

Deutsche Bank's innovations in L2 technology open new opportunities for the banking industry to manage and regulate digital assets in a safer and more efficient manner.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

US DOJ Launches Task Force to Combat AI Misuse

The US Department of Justice has launched a task force to combat the misuse of advanced artificial intelligence, ensuring American leadership is not compromised by bad actors.

user avatarLuis Flores

Mercado Bitcoin Suffers Major Security Breach with $48 Million Stolen

Mercado Bitcoin has reported a significant security breach, with over $48 million in assets stolen across 11 blockchains. The breach occurred on November 2, 2023, challenging the exchange's claims of containment.

user avatarArif Mukhtar

Trump's Stock Market Celebration Turns Sour

President Trump's celebration of Wall Street's highs quickly turned negative as the SP 500 plunged, prompting discussions of emergency trading halts.

user avatarMaria Gutierrez

Market Faces Emergency Trading Thresholds Amid Selloff

The US stock market approached emergency trading thresholds as the SP 500 faced significant declines, raising concerns among traders.

user avatarDavid Robinson

Thailand's SEC Takes Action Against Bitget for Unlicensed Operations

Thailand's SEC has filed a criminal complaint against BG Limited for allegedly operating the cryptocurrency exchange Bitget without a license.

user avatarAndrew Smith

VanEck Sees Buying Opportunity in Bitcoin Mining Stocks After Market Correction

VanEck sees a buying opportunity in Bitcoin mining stocks after a market correction, citing limited electricity capacity and delays in grid connections as potential advantages.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.