Why Financial Privacy Failed on Public Blockchains
Public blockchains promised openness. What they delivered was exposure. Over time, transaction histories turned into behavioral maps. Wallets became identities even when no names were attached. This is where the idea of financial privacy quietly broke.
Markets do not function well when every move is visible. Traders adapt. Competitors copy. Bad actors observe. The result is not fairness but fragility. Dusk approaches this from a different angle. Instead of asking how to hide everything, it asks what truly needs to be seen. That distinction is easy to ignore until capital starts behaving unnaturally. Transparency sounds clean. In practice, it often distorts incentives rather than fixing them.