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QX | February 2024 - Monthly Recap #2



Our monthly recap offers a regular cadence of updates regarding our contributions to the Enterprise Blockchain community. These updates showcase QualitaX's dedication to advancing blockchain adoption in financial services. Whether collaborating on open standards, releasing open-source tools, or educating through ecosystem partnerships, we are committed to supporting the digital transformation of traditional finance.


Digital Assets


📢 Last month, we announced our new initiative to track the adoption of the ERC3643 standard. As part of our ongoing commitment to support the real-world asset tokenization space, we will be providing two deliverables: an ERC3643 Adoption Tracker as well as a deep dive report. We are happy to announce that both items will be officially released in March!


For the early enthusiasts, here is a sneak peek:







DeFi Risks


Our new resource on Decentralized Finance (DeFi) risks will be also released in March!


QX DeFi Risks 101 is an open-source resource providing understanding and analysis of Decentralized Finance (DeFi) risks. It covers 1) systematic risks such as market risk, liquidity risk, compliance and legal risk, oracle risk, and bridge risk 2) unsystematic risks such as governance risk, smart contract risk, etc.




It builds on the Enterprise Ethereum Alliance (EEA) DeFi Risk Assessment Guidelines, a framework for evaluating risks across DeFi protocols, smart contracts, data protocols, and more. These guidelines were developed with the input and expertise of over 35 industry leaders from organizations such as Consensys, DTCC, EY SAP, OpenZeppelin, Hacken, and DeFi Safety contributing hundreds of hours of dedicated work.


Interoperability


📝 Another month, another contribution to the EEA DLT Interoperability Technical Specification draft. We are happy to inform that the EEA Crosschain Interoperability Working Group will soon invite interested parties to provide feedback and comments on the document. QualitaX's involvement underscores our commitment to interoperability between DLT/blockchain networks in regulated settings and fostering a more connected and efficient business ecosystem. By sharing our expertise and insights, we have helped to refine and enhance the requirements that will guide the seamless interaction between different heterogeneous DLT networks.



QX Insights - Webinars


In 2023, we launched a webinar series titled "The Future of Financial Market Infrastructures" aimed at exploring and demystifying the evolving world of finance through the lens of blockchain technology. The purpose of the series is to be a hub for thought leaders and experts in the field and to provide insights into the changes shaping the financial industry.


👉 Catchup: This month, we had the pleasure of hosting Stephan Rind, Founder and CEO of BrickMark Group . We discussed real-world asset tokenization and more specifically, real-estate-backed digital securities. Brickmark has completed €160m and has €1.24b of projects in preparation. An insightful conversation with very interesting case studies and relevant questions from attendees.


Recording is now available on Youtube.



A short snippet the webinar during which he provides an overview of their end-to-end asset tokenization process. This snippet covers:


✅ Initiation - where the asset issuer structures and evaluates the asset for tokenization based on their goals, like exiting partial ownership or raising additional financing through debt or equity tokens. Legal counsel assists in structuring.


✅ Configuration and Tokenization - involving smart contract programming and selecting the optimal blockchain like Ethereum, Polygon or Stellar.


✅ Distribution, Marketing, and Trading - where the tokens are promoted to investors through listings on exchanges and OTC platforms. Expert insights are offered into best practices for asset tokenization to create liquidity and unlock value.




👉 Catchup: With Karen Scarbrough, Executive Director at the Enterprise Ethereum Alliance (EEA), we dived into the key findings from the Ethereum Enterprise Alliance's 2023 Enterprise Ethereum Business Readiness Report. In the latest edition of over 100 pages, the EEA provides its most comprehensive assessment yet of Ethereum's growing adoption as an enterprise-grade business platform.


Recording is now available on Youtube.



QX Snapshots - Newsletter


As professionals in emerging technologies, we like to keep our pulse on the latest news on AI, Tech, Quantum computing, Blockchain, and the Metaverse. This month, we published 4 new issues of QX Snapshots.


Friday, 23 February - Daiwa Securities Launches Digital Bond on Progmat, Bankhaus Scheich Tokenizes Money Market Fund on Polygon, Swiss Cities Embrace Digital Bonds on SDX Platform.


Friday, 16 February - Citi, Wellington, and WisdomTree Explore Tokenizing Private Markets on Avalanche; Taurus Integrates Lido for Liquid Ethereum Staking; Telefónica and Chainlink Labs Enhance Blockchain Security with Telecom APIs on Polygon.


Friday, 09 February - UBS Debuts Hong Kong's First Blockchain-Based Tokenized Warrant, Abu Dhabi Global Market x Solana, GoDaddy x ENS, and Saudi Arabia's $250M DeepTech Venture with Hashgraph Association. 


Friday, 02 February - UAE's CBDC Transfer to China; GF Securities' $100M Tokenized Bond; MUFG Explores Stablecoins for Trade; Fnality Eyes US Dollar Transactions; Siemens & J.P. Morgan Blockchain-based Treasury Management. 


Next Steps: Fostering Collaboration in Digital Finance


Over the next month, we will continue driving impact and adoption of open standards through our deep involvement with industry groups like the Enterprise Ethereum Alliance and ERC3643 Association.

We intend to release more educational materials and thought leadership content around crucial topics such as Digital Assets, DeFi risks and DLT interoperability in regulated settings. Our contributions in these spaces aim to promote responsible innovation and make complex concepts more accessible to enterprises.

Finally, we are exploring new collaborative opportunities with partners focused on advancing Digital Transformation for the Financial Services sector by using blockchain and DLT technologies.

The months ahead promise exciting progress across our focus areas. We look forward to updating you on the latest developments in our next monthly recap!


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