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Will Project Dama 2 be integrated with a major financial institution by mid-2026?
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Press releases or official announcements from Deutsche Bank or partner institutions
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Deutsche Bank's $1.5 Trillion Project Dama 2 Develops Ethereum L2 with ZKsync for Regulatory Oversight
Dec 18, 2024, 03:13 PM
Deutsche Bank, valued at $1.5 trillion and Germany's largest bank, is developing a Layer 2 blockchain on Ethereum using ZKsync technology as part of Project Dama 2. The initiative aims to address compliance challenges faced by financial institutions when using public blockchains, such as the risk of transacting with criminals or sanctioned entities. The project includes a trusted verifier mechanism and grants regulators special supervisory authority to mitigate these risks. A minimum viable product is expected to be ready by 2025, subject to regulatory approval. This move is part of Deutsche Bank's effort to enhance efficiency and cost savings in regulated financial services while tackling privacy and transaction challenges.
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