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Deutsche Bank enters Ethereum with a new Layer 2
By Daniele Corno
German bank Deutsche Bank challenges regulatory risks with the launch of Project Dama 2, a Layer 2 on Ethereum, finance also adapts
Project Dama 2
Deutsche Bank has developed a new Layer 2 on Ethereum to overcome public blockchain compliance issues. The project is called Project Dama 2 and is part of Singapore’s Project Guardian.
This initiative involves 24 global financial institutions experimenting with blockchain. The solution aims to make Ethereum more secure and efficient for banking institutions. Blockchain offers many advantages, but there are risks to them, including, transactions with unverified validators or sanctioned entities.
With its Layer 2, Deutsche Bank creates a system of selected validators that complies with regulations. In addition, the bank has introduced “super administrative rights.”
This feature gives regulators the ability to check funds as needed. The result? Increased security and more trust for banking institutions.
An Ethereum “Banking” layer 2.
The project was implemented with the support of Memento Blockchain and Interop Labs and is being developed through ZK technology .
Deutsche Bank plans to launch a first working product by 2025, subject to approval by the relevant authorities. This Layer 2 represents a true bridge between traditional finance (TradFi) and public blockchains such as Ethereum.
The innovation is clear: reduced cost, fast transactions and guaranteed security. With Project Dama 2, Ethereum becomes accessible to even the most rigid financial institutions, and the eventual success of this project could serve as a model for other banks.
Adoption of blockchain is no longer a distant choice: today it is becoming commonplace.
