With Summer fast approaching, the OAX Foundation team is diligently working towards several targets.
Our partner, Enuma Technologies, has been working hard to get the trustless exchange that we released on the Rinkeby Testnet in January production ready. They’ve also been busy writing a paper to explain the specification of our Layer 2 Solution, the technology underlying our project.
The paper is currently undergoing peer review. Select people from the community who have extensive experience developing protocols and deep cryptographic knowledge will be giving their views on it before it’s published and made public. We look forward to sharing the results as soon as it’s ready.
Enuma Technologies have written previously about their work on our project and other blockchain technology related topics. Just a few weeks ago, for instance, David Leung and Philippe Camacho from the team there released a blog post explaining the concept of Delayed Finality in blockchain transactions.
Those of you who have been following our project for a while will know that Paul Li, our General Counsel, has been regularly commenting in the media and at events about issues relating to the regulatory environment for digital assets. Earlier this month, Paul again spoke with Tsering Namgyal, a journalist from Blockchain Asset Review, on a wide range of issues including the different measures that digital asset exchanges can implement to better safeguard user assets, and the evolution of regulatory frameworks both in Hong Kong and globally. The entire Q&A can be found here.
Also this month, Professor Syren Johnstone of the Faculty of Law at the University of Hong Kong published the second part in a series of independent research papers funded by OAX Foundation. This part of his study focuses on examining the challenges faced by regulators creating a framework to oversee the secondary market in digital asset trading. In his paper, Professor Johnstone calls for the development of regulations to be model-neutral and to focus on the oversight of functions and establishing accountability for wrongdoing. The important thing is to balance investor protection more effectively with the need to encourage innovation.
The full paper, “Requisites for Development of a Regulated Secondary Market in Digital Assets”, can be downloaded here.
Other articles from the OAX Foundation team this month include:
Bringing digital asset trading to the mainstream — Hong Kong as blockchain hub
Regulating digital asset trading — part one