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Deutsche Bank is launching Project Dama 2, a layer two (L2) pilot program utilizing ZKsync technology to navigate regulatory challenges in blockchain. This initiative, part of Singapore’s Project Guardian, focuses on asset tokenization while ensuring compliance and oversight for financial institutions. The bank plans to introduce a basic version next year, aiming to enhance transaction efficiency without relying solely on the Ethereum Layer 1 for detailed records.
Germany’s Deutsche Bank is launching Project Dama 2, a Layer 2 protocol aimed at enhancing blockchain efficiency while ensuring compliance with regulatory standards. This initiative, part of the Monetary Authority of Singapore’s Project Guardian, utilizes ZKsync technology to reduce transaction costs and mitigate risks associated with public blockchains by implementing a curated validator list and providing regulators with oversight tools. A minimum viable product is expected in 2025, pending regulatory approval, potentially setting a precedent for integrating blockchain in traditional finance.
Deutsche Bank is set to launch an Ethereum layer-2 solution, named Project Dama 2, aimed at enhancing transaction efficiency while ensuring compliance for financial institutions. This initiative will utilize ZKsync technology and allow banks to curate validators, addressing regulatory concerns while providing oversight capabilities for regulators.The project is part of Singapore's Monetary Authority's Project Guardian, involving 24 financial institutions exploring blockchain asset tokenization. However, the design raises decentralization concerns among blockchain advocates due to the control given to regulators over transaction validation.
NFTMozaic has secured a Decentralized Futures Grant from the Web3 Foundation to enhance Polkadot's NFT ecosystem. The initiative, led by Unique Network, aims to unify NFT projects through governance, technical development, business growth, and marketing, positioning itself as the central hub for NFT collaboration on Polkadot. Looking ahead to 2025, NFTMozaic plans to develop a unified technical toolset for developers and increase user engagement within the NFT space.
NFTMozaic has secured a Decentralized Futures Grant from the Web3 Foundation to enhance Polkadot's NFT ecosystem. The initiative, led by Unique Network, aims to unify NFT projects through governance, technical development, business growth, and marketing, positioning itself as the central hub for NFT collaboration on Polkadot. Looking ahead to 2025, NFTMozaic plans to develop a unified technical toolset for developers and increase user engagement within the NFT space.
Deutsche Bank is developing an Ethereum layer 2 solution using ZKsync technology to enhance transaction efficiency and address regulatory challenges for financial institutions on public blockchains. This initiative, part of Project Dama 2 and linked to Singapore’s Project Guardian, aims to create a secure environment for banks by allowing them to customize validators and provide regulators with oversight capabilities. A minimum viable product is expected next year, pending regulatory approval.
Chainlink Labs is at the forefront of integrating traditional finance with blockchain technology, led by Angie Walker, who emphasizes the potential of distributed ledger technology to enhance market efficiency. The company aims to create an "Internet of Contracts," facilitating interoperability and automation across financial systems. With a high-performance culture and a commitment to driving blockchain adoption, Chainlink offers capital markets professionals diverse opportunities to innovate and collaborate in the evolving Web3 landscape.
In 2024, the cryptocurrency market achieved a valuation exceeding $3 trillion, fueled by renewed optimism following Donald Trump's re-election and the approval of spot Bitcoin ETFs, which bolstered investor confidence. This year marked a significant maturation of the crypto sector, emphasizing security, compliance, and trust-building, leading to increased venture capital investments. As the industry prepares for 2025, startups are encouraged to leverage these developments to attract VC attention.
Vishal Mega Mart made a remarkable debut on the NSE, listing at a 33.33% premium over its IPO price of Rs 78, opening at Rs 104 and later reaching Rs 111.19, marking a 42% increase. The Rs 8,000-crore IPO was oversubscribed over 27 times, with significant backing from major anchor investors.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has ruled that profits from cryptocurrency transactions before April 1, 2022, will be taxed as capital gains, offering relief to early adopters. Short-term gains will be taxed at 15%, while long-term gains will be taxed at 10%, contrasting with the current flat 30% rate. This decision highlights India's ongoing struggle to establish a supportive regulatory framework for digital assets, prompting many businesses to relocate to more favorable jurisdictions.
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