One can instantly sense the clarity of the vision and mission of Dusk given its abstract that is focused on the inner workings of the technology as opposed to directly stating the objective of uniting the lack of decentralization of platforms and the traditional finance markets as it presents a privacy-centric and compliance-ready blockchain solution that to the requirements of both the performance and regulatory standards by the financial sector, both about the performance and about regulatory assurance...Dusk is a robust, privacy-based, and compliance-ready blockchain platform, that serves the standards of the financial industry as a whole in regard to the performance as well
The goal is clear. Bridge the gap between blockchain and traditional finance.
I have always thought personally that blockchain was a two-world problem. It is one of the worlds which is innovative, free, as well as open. The other world is full of rules, structures of trust and controlled institutions that deal with real money and real obligations on day to day basis. The two worlds have a right to exist on earth but they fail to interact easily. It is there where I see Dusk as being better, as it does not seek to refute the facts about finance. Instead, it is trying to build a real bridge.
It is not merely the question of applying traditional finance so as to get the money across in time. It is about responsibility. Strict legislation should be observed by banks, exchanges and funds and other financial bodies. They must document what they have done, take care of their customers and curb fraud and money laundering. These systems may be sluggish and cumbersome occasionally but at least they exist because errors in finances will destroy lives and economies.
Blockchain however was created in a non-borderly and open way. Anyone can use it. Anyone can check transactions. It brings about such potent ideas as transparency, global accessibility, and electronical ownership. But here is the challenge. Most of the blockchains are transparent. This means that information on dealings is inexpensively followed. One can mention wallet activity. Sometimes, it is even possible to guess financial relations. That perhaps will perform its task in the open networks, but it is not always digestible to serious financial employment.
Personally, this is what I believe is the problem that Dusk is trying to solve.
I do like the message of Dusk and it is not a complicated one. This is saying that privacy is not a suspicious characteristic that should be dealt with. Privacy should be normal. In real world, financial privacy is expected. Your salary is not public. Your business contracts are not witnessed by strangers. Your investment strategy is not something that the internet is interested in.
But without, there cannot be anarchy of privacy. Financial systems still need the compliance. They are forced to adhere to regulations. This is why the phrase privacy-friendly compliance-enabled blockchain is so meaningful. It suggests the moderate standpoint. There must be no privacy without responsibility and no compliance without protecting the user.
I believe that this balance is the sole one that will allow blockchain to leave the initial stage.
Maybe, some of the projects which are highly oriented to technology are extremely wonderful but sometimes they just come out to talk like they are developing to the developers. Dusk seems to be running towards more reality. It will also not be leaving a trail of crypto users who are fully informed. It is also putting itself in a place as the infrastructure that would be considered by financial institutions.
In my opinion, the gap filling process means converting blockchain into something applicable to real-life financial environment, and does not force the latter to go against their regulations. It is a world whereby there is a form of co-operation of decentralized tools and the traditional markets, as opposed to being competitive. It is where tokenized assets, financial applications 1-to-1 and digital securities have a possibility to ensure a safe experience to businesses and equitable experiences to users.
The other big problem is being negotiated as Dusk speaks of the possibility to fulfill the performance and regulatory requirements. Despite the fact that, privacy issues and compliances are already settled, the network must still be able to perform well. Finance is founded on speed, stability and reliability. Very big institutions will not consider a blockchain seriously in case it fails to manage transactions in a smooth timetable or it is too expensive to use it.
Thus, I suppose that Dusk is attempting to project into the future, and it is a time when blockchain is no longer considered a mere buzzword, but a trusted and actual one. Where it may not only be new, but used.
And to say the truth, I think that this is the way of blockchain to the future.
Space of the entirely open networks where nothing is hidden will never lack. Creative applications, funk applications, and whimsical innovation will never lack space. But the world needs something to be more structured, when it comes to the case of financial sector. A blockchain that is privacy-respective, capable of providing compliance, and that can perform well is not only a good idea, but also a necessity.
This is why I can say that the mission of the Dusk is more than a marketing mission. It is a reaction to a real problem which the entire industry was grappling with throughout the years. As long as Dusk has the potential to develop such a bridge, it will not only be a means of getting its ecosystem to expand, but also potentially be the chance to make the traditional finance see the blockchain overall in a different light.
After all, it is not about getting things in place. This will be in an attempt to fill the gap between the existing and the next. That is what a bridge does. And assuming that Dusk can survive, it will make one of the biggest bridges to the future of digital finance.
