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Deutsche Bank to Develop Ethereum Layer-2 Blockchain to Tackle TradFi Compliance Issues
In a significant development, CryptoSlate has learned that Deutsche Bank, a multinational investment bank and financial services company based in Europe, is planning to create an Ethereum layer-2 blockchain. This move aims to address compliance issues in traditional finance (TradFi).
According to sources close to the matter, Deutsche Bank’s decision to develop this new technology comes as it looks to tackle regulatory challenges in the financial sector. As a global leader in financial services, Deutsche Bank recognizes the need to adapt and innovate to maintain its position in an ever-evolving market.
The Ethereum layer-2 blockchain project will reportedly leverage cutting-edge zero-knowledge (ZK) technology, courtesy of zkSync ZK’s Layer-2 protocol. This partnership is expected to significantly enhance scalability while maintaining core principles of decentralization at scale.
By utilizing this innovative solution, Deutsche Bank aims to address the pressing issue of compliance in TradFi. The company acknowledges that traditional finance has traditionally relied on centralized and closed systems, which do not align with the needs of modern finance.
As a result, the development of an Ethereum layer-2 blockchain will enable Deutsche Bank to provide real-time data network and launch AI-powered agent arena on Bittensor Chain. This move can potentially revolutionize the way financial institutions handle compliance issues, ensuring seamless interaction between TradFi and the DeFi space.
The implications of this partnership are far-reaching and have significant potential to reshape the global financial landscape.
Source: cryptoslate.com
