news 
Title: German giant Deutsche Bank develops its own Ethereum-based blockchain
The Deutsche Bank, one of the largest financial institutions in Germany, has taken a significant step towards embracing blockchain technology. The company has been actively involved in exploring cryptocurrency and Bitcoin for quite some time now. In April, they announced that Bitcoin is no longer just a hobby but not yet an essential element of the financial system either.
Despite this, Deutsche Bank has decided to dive deeper into the world of cryptocurrencies by developing its own Ethereum-based blockchain solution. The project aims to create an L2 blockchain network, which would allow for faster and more cost-effective transactions. These networks operate on top of primary layer-1 networks like Ethereum, providing a scalable and secure solution.
The significant milestone in this development is that Deutsche Bank plans to integrate regulatory compliance tools into the system, including “super admin rights” that will enable financial regulators to monitor and audit activities as needed. This move could pave the way for larger-scale adoption of decentralized systems within financial institutions.
Integrating blockchain technology with strict regulatory requirements will also enhance transparency and accountability, which is a crucial step in bringing this innovative solution into mainstream use. If successful, Deutsche Bank’s initiative may encourage other major banks to follow suit, potentially revolutionizing the way financial transactions are conducted.
In related news, it was announced that Deutsche Bank has partnered with Crypto.com to further explore blockchain technology and its potential applications.
As per the article, there is a possibility that Deutsche Bank may launch a euro-denominated stablecoin in 2025.
Source: www.bitcoinbazis.hu
