Layer N, an Ethereum StateNett dealing with the scaling of financial apps, welcomes the addition of the former Fidelity International exec, Luc Froehlich, to its advisory board.
This was soon after it made it public about its move to join the Asia market through the FinTech as a Service for Web3 provisions of BlackPine with a partnership with VSFG.
Froehlich has been heading the crypto and tokenized assets division at Fidelity Investments for seven years. He communicated in a recent interview whereby he clearly stated the reason why he was joining this team. In the interview, he said that Layer N’ architecture is the way to go about solving the issues of fragmentation in the financial sector.Â
By introducing a network of customizable virtual machines that can communicate and share liquidity seamlessly, Layer N overcomes the often siloed operation of traditional systems“
He said
The network applies zero-knowledge proofs to boost transaction confidentiality thereby ensuring established regulations are met. Froehlich believes blockchain as a technology will be a threat to the legacy finance infrastructure.
He also added that blockchain technology has now fully built itself and can be able to handle the challenging infrastructure underlying TradFi.
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