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⛓️ COO Dominic Schwenter on Lisk’s Layer-2 Journey and Emerging Markets Focus ⛓️

BeInCrypto sat down with Dominic Schwenter, COO of Lisk, to delve into the latest developments surrounding Lisk’s mainnet launch and the project’s changing role in the blockchain ecosystem.

With a rare legacy in Web3 that spans over 8 years, Lisk has strategically shifted from a Layer-1 (L1) to a Layer-2 (L2) approach, aiming to take the lead in tackling scalability challenges and democratizing blockchain technology access, with a strong focus on emerging markets.

●Inside Lisk’s Journey to L2 and the Collaborative Scaling of Ethereum

Since its founding in 2016, Lisk has witnessed significant growth in the Web3 space and learned valuable lessons along the way. Schwenter reflects on the early days during the interview with BeInCrypto.

“When Lisk was founded, the space was so much more nascent than it is today. Ethereum had just launched, and smart contracts were still a novel concept. Lisk’s founding principle was to democratize access to blockchain technology by making it accessible to JavaScript developers worldwide. Scaling was always on our radar as well,” he stated.

Lisk’s pioneering approach involved building the first JavaScript-based L1 blockchain from scratch. This infrastructure, combined with a focus on app-specific sidechains, set the stage for Lisk’s emphasis on accessibility and community-driven development.

“One of the things that makes Lisk unique is our long-term approach. We’ve always been prescient about the fact that blockchain adoption would take time, perhaps even a decade. That vision shaped our team structure, fund management, and overall strategy,” Schwenter explains.

In 2024, Lisk boldly transitioned from L1 to L2, joining forces with Optimism (OP) and other leading blockchain projects. Lisk is now part of the OP Superchain, a collective of interoperable L2 solutions designed to scale Ethereum while retaining its security benefits.

“Lisk is now 100% focused on our Layer-2, which is EVM-compatible on the OP stack as part of the OP Superchain,” Schwenter described.

For him, the Superchain offers a unique advantage by promoting interoperability and collaboration rather than competition among blockchains. Big names like Uniswap’s Unichain, Sony’s Soneium, and Kraken’s Ink have also joined the Superchain, signaling its potential as a powerful, interconnected framework. Being part of this “interop set” allows Lisk to work with these networks, which are all committed to enhancing blockchain interoperability.

Additionally, he believes that this cooperative approach is crucial for the mass adoption of Web3, as it tackles the industry’s fragmented nature.

“It creates the consumer layer on Ethereum, enabling teams to focus on building rather than competing in the infrastructure space,” Schwenter explains.

On the other hand, Schwenter sees that Lisk’s integration with the Superchain provides access to Ethereum’s liquidity and leverages Ethereum’s decentralized security. Schwenter highlights the potential impact of L2 on unlocking Ethereum’s full potential by allowing scalable applications to be built without the prohibitive costs of L1 fees.

From Stablecoins to Agriculture: Lisk’s Hands-On Approach in High-Growth Markets
Lisk’s commitment to emerging markets, particularly in regions like Africa and Southeast Asia, is central to its mission. According to data from the International Monetary Fund (IMF), emerging economies now contribute approximately 40-45% of the global GDP. With population growth rates reaching 1.5-2% annually, these developing areas are prime for blockchain adoption.

Recognizing the demand for blockchain solutions that address practical needs, Lisk partners with local builders, governments, and organizations to support this expansion by providing scalable, cost-effective technology that aligns with economic and developmental needs.

“Emerging markets are leading the way in applying blockchain to real-world challenges, addressing genuine, pressing needs. The solutions being developed there have the power to transform everyday life and hold significant business potential. That’s where we’re focusing our efforts: where we believe too few others are looking,” Schwenter remarked.

For Lisk, this focus includes areas like stablecoins and real-world asset (RWA) tokenization. Schwenter emphasized the importance of RWA, noting that stablecoins, particularly those that bear yields, are popular in emerging markets as they provide access to credit for small businesses and similar needs.

Lisk’s approach is to support practical use cases that address real problems, such as bringing data on-chain or solving agricultural challenges for small farmers. Schwenter also shares insights on how Lisk is establishing a locally based community in these regions to build trust.

“We’re focused on building trust and personal connections in emerging markets. Many blockchain projects come and go, but we’re committed to developing a sustainable community and ecosystem there,” he explained.

● What’s Next for Lisk in 2025?

With the recent mainnet launch, Lisk has set ambitious goals for the upcoming year. The mainnet will kick off with an airdrop campaign, offering a gamified experience for users to earn points and rewards.

“We’re rolling out several seasons of airdrops over the coming months, including a mix of point-based systems and raffle sprints with exclusive incentives for specific applications within the Lisk network,” Schwenter shared with BeInCrypto.

Looking forward to 2025, Lisk plans to be one of the first OP stack L2s to implement fault proofs, further decentralizing its infrastructure. Schwenter emphasizes the significance of these developments.

“We believe that this interoperability and focus on emerging markets position us uniquely in the Web3 landscape. We’re excited for the paradigm shift this will bring in terms of how chains and applications are built and adopted,” he concluded.

https://beincrypto.com/coo-dominic-schwenter-on-lisks-layer-2-journey

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00:01:12
Brad Garlinghouse In Washington 🚀

It’s time for a fair and open level playing field.

Under Gary Gensler it was quite the opposite.

  • Brad Garlinghouse
    July 9, 2025
00:01:56
More Of The Same...l

🚨 JUST IN: Patriot Tom Fitton, who has been fighting DOJ and FBI to release documents for years, has practically thrown in the towel.

👉 "The justice department and the FBI are irredeemably compromised and corrupted.
The leadership needs to understand that and act accordingly." ~Tom Fitton

00:01:30
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

🎁 As of July 8th there have been 84 VERI SmartMetal NFT Activations (1.3%). With shipments ramping up, we witness the corresponding jump in activations.

Need help getting started? Check out our knowledge base to get the info you need: https://veridao.freshdesk.com/support/solutions/articles/51000487052-what-are-the-nft-activation-steps

👉Interested in which NFTs have been activated? Check them out here:
https://basescan.org/token/0x4516a5d613c30a36d157d3b579813734cbb929a4

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🚨BREAKING: The US House Committee on Financial Services says that next week the House will deliver on President Trump's call to make the US the "crypto capital of the world!

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Brinc Launches Web3 Accelerator with Octopus, XDC & IDA

Brinc Launches Web3 Accelerator with Octopus, XDC & IDA to Transform Hong Kong’s Loyalty and Payment Systems.

Read more: https://www.brinc.io/blog/brinc-launches-octopus-backed-web3-accelerator-program-to-revolutionize-hong-kongs-retail-loyalty-and-payment-ecosystem-with-xdc-and-ida-as-key-web3-infrastructure-partners/

🔗 Startups can apply from July 10

📅 Launching Sept 8

Learn more about the Web3 Accelerator program and apply now: https://www.brinc.io/stablecoin-accelerator/

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
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🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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