The 2Tokens Foundation organised an online event where industry experts joined the discussion on the current state of tokenization in Europe and its opportunities.
As tokenization technology advocates, we gladly seized this opportunity to share our knowledge with the banks, ministries, SMEs, and institutions present. Dusk Network was represented at the event held on the 8th of October by Jelle Pol, Co-Founder and Business Lead. Since the 2Tokens foundation is gradually releasing all sessions as a podcast series on Spotify, this blog provides a great way to catch-up and includes an introduction to the first podcast.
In the first podcast, the topics on the agenda are: the importance of tokenization standards and frameworks, and the proposed legislation ‘Markets in Crypto-Assets (MiCA)’ by the European Commission.
Blockchain systems provide a new financial ecosystem that enables organisations from all across the globe to cooperate and connect. For these systems to reach their full potential it is of utmost importance that the industry agrees on a common set of standards and practices. Together with the International Token Standardization Association (ITSA) and the InterWork Alliance (IWA), we are pushing the agenda towards acceptance of various token standards.
Markets in Crypto-Assets
Dusk Network was designed for compliance because we believe that adhering to existing regulation is a more potent route to market, than waiting for regulations to change. We see a global trend of increased regulatory clarity, which acts as a catalyst for wider blockchain adoption. Recently we’ve seen the release of various regulatory proposals that further cement blockchain compliance frameworks. One such legislative proposal is the Markets in Crypto Assets (MiCA) by the European Commission.
The MiCA legislative report prescribes the following objectives and was a central topic of discussion during the 2Tokens Summit:
(i) to provide legal clarity and certainty to promote the safe development of crypto-assets and use of DLT in financial services;
(ii) support innovation and fair competition by creating an enabling framework for the issuance and provision of services related to crypto-assets;
(iii) to ensure a high level of consumer and investor protection and market integrity;
(iv) to address potential financial stability and monetary policy risks that could arise from an increased use of crypto-assets and DLT.
We invite our readers to tune in for the first podcast, featuring Dusk Network’s business lead Jelle Pol advocating the importance of setting standards for Global Token Markets and discussing the potential impact of the European Commission’s Markets in Crypto Assets (MiCA) proposal on the blockchain industry.
Summit Part 1 - Intro Tokenization and how this relates to proposed MiCA regulation
About Dusk Network
Dusk Network is a privacy blockchain for financial applications. You can use Dusk Network to create zero-knowledge smart contracts that control digital assets and securities.