"We are now measuring success by production. Pilots don't count anymore."
@gluk64 describing on @therollupco how Prividium enables institutions to accelerate their digital assets roadmap and why customer deployments is the only real metric of success.
💻 NEW: A deep dive into Prividium Connect.
Watch how Prividium Connect enables two institutions transact privately across the blockchains they already run without relying on a trusted intermediary.
Alex Gluchowski, inventor of @ZKsync, says success is now measured by production.
"Pilots don't count anymore. Experiments are not exciting. It's the players that actually connect their systems and let their customers truly transact."
In five years he thinks the industry will be "completely unrecognizable."
"Everything that touches value is going to be on blockchain in one way or another."
@gluk64
ZKsync just launched Prividium Connect, letting banks trade privately across blockchains without middlemen
Two weeks after DTCC named Matter Labs a collaborator, ZKsync is proposing that Connect fees flow into the $ZK economy
Still needs governance approval, but could be huge
"Trusting a third party isn't acceptable for institutions that want to have a sovereign financial infrastructure. This is what we solve with Prividium Connect."
🗣️ @gluk64
🎙️ @robbieklages
📺 @therollupco
Alex Gluchowski expects a lot of institutions to gravitate toward public chains like Ethereum when they need a credibly neutral settlement layer.
"We pick a third place which is credibly neutral, which has very strong guarantees of finality, and this is what Connect enables you."
He says consortium or mutually operated private chains still cover cases like a central bank connecting to other central banks.
@gluk64@zksync@ethereum
Blockchain bridges still make institutions trust someone else. Matter Labs' Alex Gluchowski says the fix is cryptographically enforced trust between chains.
"Even if you remove the bridge, you simply shift the trust assumption to someone else."
@gluk64@the_matter_labs
Introducing Prividium Connect.
Institutions can now privately exchange assets across blockchains without a trusted intermediary.
For the $ZK economy, this opens an opportunity across global financial markets.
"We believe that in order to build a next-gen financial ecosystem, you need to have a great interoperability solution. And we are building to enable connectivity between disparate ecosystems."
@noah_pravecek talking about Prividium █████ on @therollupco.
INSTITUTIONAL NYC MIXER: The Tokenization Supercycle Needs Privacy (Here's The What & Why)
@therollupco@noah_pravecek@zksync@EntEthAlliance
00:00 Intro
01:43 Adding privacy into institutional finance
03:38 How the DTCC deal opens institutional doors
04:52 Compliance and risk management
07:02 Answering the "then, what?" question
09:55 Institutional sales process
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".
Three primary reasons:
1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)
EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.
The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.