Why Dusk Is More Than Just Another Blockchain
“In a world that requires compliance on both sides of a deal and a desire for data privacy, @Dusk is working on something that is fairly groundbreaking—it has a Layer-1 blockchain that allows you to do both without being a choice between compliance and confidentiality,” writes @bossmonster03 on Twitter. Dusk
“The Dusk network is a confidential smart contract platform that uses zero knowledge proofs and has native compliance functionalities that makes it possible to issue, buy, and sell financial assets on a blockchain in a confidential manner,” writes @davidhenderson on Twitter. “The confidential payments system on Dusk is a zero knowledge proof system that enables payments without revealing any information
In contrast to traditional blockchains on which the entire transaction information is transparent to everyone on the network, Dusk’s tech allows users to choose the time and party with whom they share information. This marks the dawn of DeFi in regulated environments because it allows businesses to implement automated rules for compliance, ensure KYC/AML on the smart contract level, and yet preserve confidential business information.
Among the most significant advancements in this space is the XSC (Confidential Security Contract) standard, geared towards the tokenization of ‘regulated assets’ such as stocks, bonds, and even ‘real-world assets’ with ‘embedded confidentiality and compliance logic.’ Visualize the concept of ‘regulated bonds’ on the ‘blockchain’ – ‘private by default’ and ‘auditable by authorized parties’ ‘when necessary’ – and this is ‘Dusk’s’ vision in action.
When I’m most enthusiastic about:
DUSK isn’t just a protocol, it’s a structural solution for the industry of compliant digital finance. As a developer working on the next generation of DeFi applications, as an institutional client requiring privacy-preserving settlement infrastructure, or as an investor following the innovation, the DUSK ecosystem is definitely one to watch.
In what area do you believe that dusk’s privacy+compliance framework would be of the most use to it: confidential tokenized securities, institutional payments, or perhaps something else entirely? Leave a comment! #dusk
