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Deutsche Bank Develops Ethereum Layer 2 Solution Using ZKsync Technology
German banking giant Deutsche Bank has announced the development of a new Ethereum layer 2 (L2) blockchain solution powered by ZKsync technology. The move is aimed at addressing regulatory challenges and enhancing transaction efficiency for financial institutions utilizing public blockchains.
According to reports, the project, dubbed Project Dama 2, is an asset-servicing pilot unveiled in November, with the L2 solution expected to provide a more bespoke list of validators and offer regulators “super admin rights” to monitor fund movements. This would enable banks to safely utilize public blockchains for various financial services while addressing regulatory concerns.
The initiative aims to resolve key issues for regulated lenders operating on public blockchains, including unknown transaction validators, risks of payments to sanctioned entities, and unexpected hard forks.
Source: cryptobriefing.com
