Mark Thoonen

[Moonchaser ☀️🪝 @Moonchaser2020]

The writing has been on the wall.

To help understand the hype surrounding why all major networks tout or strive for EVM-compatibility, here’s what I believe.

EVM compatibility is important for the issuance of CBDCs, DeFi and tokenisation of Real World Assets (RWA).

In recent years, the BIS has been testing with various projects, all EVM-compatible written in Solidity.

Project Mariana:
🔸 Cross-border trading and settlement of wholesale CBDCs (wCBDCs)
🔸 DeFi elements tested in the project, specifically automated market makers (AMM), could form the basis for a new generation of financial market infrastructures

Project mBridge:
🔸Experiments with a multiple-central bank digital currency (multi-CBDC) common platform for wholesale cross-border payments.

It appears for the applications stated above, EVM-compatibility is the industry standard for interoperability and foundation for deploying and hosting smart contracts for the foreseeable future.

EWASM (Ethereum Web Assembly) is the successor of EVM but that’s another story :)