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.
Interoperability
🎉𝐆𝐫𝐞𝐚𝐭 𝐧𝐞𝐰𝐬 - Excited to announce the release of a new case study written with our fellow members at the Enterprise Ethereum Alliance (EEA) showcasing an implementation of its DLT interoperability specification!
🔗 This case study demonstrates how the EEA DLT Interoperability Specification enables seamless communication between distinct blockchain networks, focusing on expanding liquidity and interoperability of digital assets.
𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
➡ Interoperability between DLT Networks
The case study demonstrates a successful implementation of an asset bridge between two distinct DLT networks: Stellar Soroban for asset management and Polygon PoS for facilitating transactions within the Ethereum ecosystem.
➡ Benefits of DLT in Asset Liquidity and Market Expansion
Enhanced Liquidity: By bridging Stellar-based assets to the Polygon network, the case study showcases how DLT can significantly enhance liquidity by tapping into Polygon's larger user base, thereby broadening the market for Stellar assets.
Expanded Market Access: The implementation allows Stellar assets to be easily accessed and traded by users in the Ethereum ecosystem, opening up new investment opportunities and driving broader adoption of the Stellar network.
Efficiency and Cost Reduction: The use of DLT for crosschain asset transactions demonstrates improvements in operational efficiency, lower transaction costs, and a reduction in the need for intermediaries.
➡ Security and Trust in Crosschain Transactions
Robust Verification Mechanisms: The implementation employs cryptographic proofs and signature verification mechanisms to ensure that only authenticated and authorized crosschain transactions are executed, thereby enhancing the security and integrity of the asset bridge.
Compliance and Trust: Adhering to EEA standards not only strengthens security but also builds trust among institutional stakeholders, regulators, and end users, making the solution more attractive to regulated industries.
➡ Ownership Transfer without Crosschain Asset Movement
Efficient Asset Ownership Updates: Instead of physically moving assets between the Stellar and Polygon networks, the implementation updates asset ownership records on the respective networks. This allows for seamless and efficient transfer of asset ownership without the need for complex asset transfers.
Demonstrating DLT Potential: This approach highlights how DLT can enable the efficient transfer of ownership rights across different blockchain ecosystems, minimizing the need for direct crosschain asset movement while still ensuring security and regulatory compliance.
The full case study is available for download here: https://docsend.com/view/xvzrb7t4ip4wy8sd
QX Snapshots - Newsletter
As professionals in emerging technologies, we like to keep our pulse on the latest news on Blockchain, AI and Quantum Computing. This month, we published 4 new issues of QX Snapshots.
Friday, 27 September - Digital Asset and DTCC Pilot Outcomes, Sky's $1B Spark Tokenization Grand Prix Attracts Major Players, Circle Launches Compliance Engine. Digital Asset and DTCC completed a successful pilot testing tokenized collateral optimization.
Friday, 20 September - UK Finance's RLN Experiment Phase Outcomes, Broadridge's DLR Platform Reaches $1 Trillion in Monthly Volume, WisdomTree Launches Tokenized Asset Platform, and Societe Generale-FORGE Deploys Stablecoin on Solana.
Friday, 13 September - Swift’s Vision for Digital Assets, Janus Henderson Launches Tokenized Treasury Fund, Allegiance Oil & Gas Debuts Mineral Vault, and Finstreet Builds Blockchain-Powered Financial Ecosystem in UAE.
Friday, 06 September - Swift & Stablecoins for cross-border payments; European Unified Ledger; Infineo’s $100 million in tokenized life; Qatar’s Digital Asset Framework.
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 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!
Would like to know more about what we do? Follow us on social media:
Youtube: https://www.youtube.com/@QualitaX
X/Twitter: https://twitter.com/qualitaxdotio
