Two months ago, I wrote about five exiting additions to look forward to in Tezos development for 2020:
1. NFT's (Non-Fungible Tokens
2. Privacy
3. The NYX Standard
4. Stable coin
5. Staker DAO
Since then:
- The NYX Standard has been released and the first STO has been issued using this standard.
- Staker DAO has been launched and is up and running on Tezos.
- NFT's will be included in the Alpha release of the Collectible Cardgame Emergents in April.
- The USDtz Tezos stablecoin with DAO-like features that includes on-chain governance is loosely announced to be expected in April. (Statement made today on Telegram).
That is four out of five in the first four months of 2020. And to complete the list, privacy features could be 3 to 6 months away.
Fine-tuned privacy for Tezos transactions
The exchange of assets on Tezos in a privacy preserving way is quite likely going to be possible this year. It is expected to be included in the seventh amendment. (Sixth amendment is just completed.) For over a year Nomadic Labs has been working to present the integration of the Sapling protocol into Tezos. Sapling is considered to be the state of the art protocol that enables privacy-preserving transactions in a decentralized environment. Read more about Tezos and Sapling in this blog by Nomadic Labs. More information is coming soon:
Why privacy?
Privacy is an important feature for financial institutions to be able to work with Tezos. The Bank of France has shown interest in Tezos for over a year now. They have even been running a Tezos node. Developments on Tezos' Tenderbake is also being followed by the Bank of France.
In the second Biannual Update by the Tezos Foundation, there is a short mention about a use-case that could have more potential after a privacy update: CBDC's (Central Bank Digital Currencies). Ryan Lackey of the Tezos Foundation recently spoke at the international CBDC conference: "Central Bank Digital Currencies: New Opportunities for Payments." The CBDC conference was an event where representatives of National Banks and other financial institutions discussed the CBDC initiative. Ryan Lackey noticed that the attendees where very enthusiastic and motivated to explore CDDC solutions.
"Big open question is just how to get the right solution out there. Privacy is one issue that various central banks [that plan on] deploying this stuff, have on their radar. Generally I’d say European banks are very demanding of privacy, especially when value thresholds can be set, but each bank and regulator will be different."
Lackey spoke about a hybrid private/public model of privacy features on Tezos at the CBDC conference.
"We're flexible, and it's ultimately up to the central banks how they want it deployed, but what I've found is they want a menu to choose from."
For the full introduction on Tezos, read this article.
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Tezos address for motivational tips: tz1RTdcgzedPYthw1GHnDKHx2WCWZefZovjD
