Here’s the friction I keep noticing: when something goes wrong in finance, someone needs to reconstruct what happened. Not in theory. In court. In audits. Under regulatory review.

Public blockchains promise transparency. But radical transparency doesn’t automatically translate into usable accountability. If every transaction is visible but context is missing — who had authority, what agreement governed it, what data was confidential — then compliance teams still end up stitching narratives together manually.

On the other side, fully private systems solve for confidentiality but create a different problem. Regulators can’t see in without formal requests. Counterparties rely on trust. Disputes become slow and expensive.

So institutions hover in the middle. Public enough to settle efficiently. Private enough to protect clients. But most designs treat privacy as an overlay. A special mode. A workaround.

That’s where it starts to feel unstable.

Regulated finance doesn’t just need speed. It needs systems that assume data minimization from the beginning — clear access boundaries, controlled disclosures, and predictable audit trails. Not secrecy. Structure.

Infrastructure like @Fogo Official , built around the Solana Virtual Machine, is interesting only if it handles this quietly at the base layer. Parallel execution and low latency matter, but only if they coexist with contained information flows and deterministic settlement.

Who would realistically use this? Institutions already operating under scrutiny — asset managers, trading venues, regulated DeFi protocols. It works if privacy and auditability reinforce each other. It fails if either becomes performative.

#fogo $FOGO