Is Canton Permissionless? CEO Says Yes, but SuperValidators Need Approval
Digital Asset’s CEO faces pointed questions about Canton’s core claims and admits something surprising about the network’s architecture.
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Canton is the chain behind JPMorgan’s deposit token, DTCC, Broadridge’s $400 billion repo book, HSBC, Visa, and a growing roster of the biggest names in global finance. It describes itself as a public permissionless blockchain. But is it?
Yuval Rooz, co-founder and CEO of Digital Asset, faces off against Alex Gluchowski, co-founder and CEO of Matter Labs, and Dragonfly managing partner Haseeb Qureshi in a live debate.
The charges range from foundational: Canton cannot enforce financial rules without a trusted third party, its validators are permissioned in everything but name, and there is no universally shared ledger. Rooz fires back on all of it and, at one point, concedes something that may surprise you.
If the label matters as much as the technology, this episode will force you to decide what blockchain actually means, and whether that answer has consequences for the institutions staking their infrastructure on it.
Host:
Laura Shin, Host / Unchained
Guests:
Yuval Rooz: Co-Founder & CEO, Digital Asset
Haseeb Qureshi: Managing Partner, Dragonfly
Alex Gluchowski: Co-Founder & CEO, Matter Labs
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Did L2 Fragment Ethereum? - With Yuval Rooz, CEO of Digital Asset, Co-Founder of Canton
Layer 2 was supposed to scale Ethereum.
But what if it fragmented it instead?
I
n this episode, we break down:
• Why public chains are “expensive databases”
• Why composability is Ethereum’s real value
• Why stablecoins don’t need blockchains
• Why L2 may be weakening Ethereum’s core
Is scaling helping Ethereum — or hollowing it out?
Explore The Defiant ✨
Is Canton a Real Blockchain? | Canton Founder Yuval Rooz
Is Canton a real blockchain or a new kind of capital-markets operating system?
Digital Asset co-founder Yuval Rooz explains why Canton prioritizes privacy as “need-to-know” information sharing and a federated “cantons” design that still allows atomic cross-canton transactions without bridges.
We unpack the two-tier architecture (edge validators + super validators that stitch cantons together and validate the public Canton Coin) and what that means for governance in regulated finance.
Plus: DTCC’s tokenization pilot starting with U.S. Treasuries, and why CC fees are USD-denominated with a burn/mint mechanism designed to track real network utility.
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🎬 DEBRIEF | RYAN & DAVID UNPACKING THE EPISODE
https://www.bankless.com/podcast/debrief-is-canton-even-a-real-blockchain
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🎯THE DEFI REPORT | ONCHAIN INSIGHTS
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💰ICO WATCH | UPCOMING PUBLIC TOKEN SALES
https://bankless.cc/ico-watch
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TIMESTAMPS
0:00 Intro
0:57 Canton Origin
8:02 Vitalik’s Post
14:15 Canton Philosophy
24:19 Canton Architecture vs Competitors
34:27 RWA Property Rights Debate
38:17 Canto Super-Validators
50:39 Canton Critiques
56:56 Decentralized vs Open Finance
1:02:16 Are Decentralized RWAs Possible?
1:07:04 Is Canton a Real Blockchain?
1:14:20 Canton Metrics
1:22:17 DTCC Relationship
1:25:27 Canton Token
1:30:43 Ethereum vs Canton in 2030
1:31:55 Closing & Disclaimers
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RESOURCES
Yuval Rooz
https://x.com/YuvalRooz
Canton
https://www.canton.network/
Omid Malekan vs Austin Campbell Professor Debate
https://www.youtube.com/watch?v=m-h-PeUOvDw
RWA Analytics
https://app.rwa.xyz/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Quadrillions: Unlocking Quadrillions | Don Wilson & Yuval Rooz
In this kickoff episode, we draw the big picture of how TradFi is a multiplier for crypto, the barriers to TradFi adoption, and how crypto can overcome - or is already overcoming - those barriers. This is the path to quadrillions moving onchain.
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Quadrillions brings together the voices defining the next era of finance. From institutional rails to stablecoins and privacy, the series dives into how traditional markets, crypto innovation, and regulatory frameworks are converging to bring the full force of capital markets onchain.
Join hosts Jason Yanowitz, Yuval Rooz, and Eric Saraniecki for deep dives with special guests Shaul Kfir, Don Wilson, Mike Belshe, Justin Peterson, Acting Chair Caroline Pham, Eli Ben-Sasson, and more.
Produced by Blockworks and Canton Network. For more information, check out https://quadrillionspod.com/
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Follow Canton: https://x.com/CantonNetwork
Follow Don: https://x.com/drwconvexity
Follow Yuval: https://x.com/YuvalRooz
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
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Timestamps:
(0:00) Introduction
(2:57) DRW's Origin Story
(9:32) Digital Asset's Thesis
(12:36) TradFi's Early Relationship With Crypto
(15:32) Deciding to Build Canton
(21:03) The Importance of Onchain Privacy
(23:42) Canton's Approach to Privacy
(28:28) Deciding When to Launch Canton
(36:23) Canton's June 2025 Fundraise
(39:59) The Scale of Tokenization
(50:35) Canton's Progress Thus Far
(54:54) Will AI and Crypto Converge?
(58:10) Are Circuit Breakers a Good Idea?
(1:02:48) Bringing Quadrillions Onchain
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Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.
Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.
A Conversation with Yuval Rooz, Co-Founder, CEO, Digital Asset
It's been three months since Yuval Rooz stepped into his new role at Digital Asset as CEO. Rooz, a cofounder of the firm, had a goal of making the firm - which was best known for partnering with large financial institutions on blockchain project - more open. On this episode of The Scoop, Rooz joins Frank Chapparo and Ryan Todd to discuss his transition into the CEO suit, what it's been like to take the reins after the exit of Blythe Masters. We also dove into blockchain strategies across cloud providers like Amazon and the success of Digital Asset's partnership with the Australian Securities Exchange.
Show transcript and notes available on The Block.