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QX | March 2024 - Monthly Recap #3




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


🚀 This month, we published "Demystifying ERC-3643: A Deep Dive into Compliant RWA Tokenization", a report in collaboration with members of the ERC3643 Association. Demystifying ERC-3643 is a deep dive into the ERC-3643 token standard for tokenizing real-world assets (RWAs) such as securities, commodities, real estate, etc. in a compliant and regulated manner on Ethereum and EVM-compatible networks. This comprehensive report features the ERC-3643 technical breakdown, adoption and ongoing developments, insights, and case studies from industry experts, clarifying the mechanics, challenges, and opportunities of the ERC-3643 standard.





The report can be downloaded: here


📢 We are also excited to announce our new initiative to track the adoption of the ERC-1400 proposed standard. As part of our ongoing commitment to support the real-world asset tokenization space, we will be providing two deliverables: an ERC-1400 Adoption Tracker as well as a deep dive report. The report will contextualize the dashboard data with qualitative insights, case studies from major projects, and an analysis of factors driving or hindering adoption. By making this adoption tracking initiative completely transparent and open source, we hope to both inform the community and accelerate the adoption and usage of the standard. Look out for the launch of the ERC-1400 Adoption Tracker next month!


Interoperability


📝 We are happy to inform you that in March, significant progress has been made in getting the EEA DLT Interoperability Technical Specification draft ready for public review and comments. The DLT Interoperability specification has been presented to the SODA-MIT Interoperability WG, and more work related to implementation and adoption plans has been discussed. We have started engaging with other organizations to review the draft specification. Interested parties will be able to provide feedback and comments on the document in April. 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 Chaals Nevile, Director of Technical Programs at the Enterprise Ethereum Alliance (EEA), and Jerome Ostorero, Director of Research and Risk at Coinchange Financials. We explored decentralized finance (DeFi) risks and how to identify, assess, and mitigate them.


Recording is now available on Youtube.



We discussed:


✅ The Enterprise Ethereum Alliance's (EEA) DeFi Risk Assessment Guidelines - a framework for evaluating risks across DeFi protocols, smart contracts, data protocols, and more. These guidelines were developed through extensive collaboration between over 35 industry leaders from organizations including Consensys, DTCC, EY, SAP, OpenZeppelin, Hacken, and DeFi Safety, who contributed hundreds of hours of expertise. 


✅ The benefits of developing an in-house risk assessment framework aligned with the Enterprise Ethereum Alliance guidelines 


✅ The process of creating risk risk-finding summary with asset allocation recommendations for asset management teams.



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 5 new issues of QX Snapshots.


Friday, 29 March - HSBC Introduces Tokenized Gold for Hong Kong Retail Investors; Global Legal Body Tackles Digital Asset Tokenization; UK Investment Association Advances Fund Tokenization.


Friday, 22 March - BlackRock’s Digital Liquidity Fund on Ethereum; Sygnum Tokenizes $50M on zkSync; Moreliquid and Tokeny Launch Euro Fund Token on Polygon; Alipay+ Trials Web3 Vouchers on Avalanche.


Friday, 15 March - Goldman Sachs, BNY Mellon, and others Test Canton Network; ClearToken Draws Major Investment; MetaMask and Mastercard Unveil On-Chain Payment Card.


Friday, 08 March - Hong Kong Launches Project Ensemble for Tokenisation Market, Athens Exchange Upgrades with Sui Blockchain, and Russia Develops BRICS Blockchain Payment System.


Friday, 01 March - Sygnum Bank & Hamilton Lane & Apex Group with Private Markets on Polygon, Rabobank pilots DLT-based Instant Settlement and BSV Sets Legal Framework for Blockchain Nodes.


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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