Regarding privacy public chains, the crypto community often loves to hype concepts like mixers and absolute anonymity. But here’s the question—when the RWA market worth trillions of dollars is in front of us, these features become obstacles rather than advantages.

Simply put, if a fund wants to tokenize 100 million euros in bonds, regulators will ask: "What about terrorist financing? Can it be frozen?" The answer from most privacy coins is refusal. As a result, they are permanently kept out of compliant markets.

Dusk Network’s technical architecture—especially the Zedger model—makes a controversial but necessary choice: introducing the View Key mechanism. Transactions are hidden from the outside (to prevent leakage of business secrets), but regulators holding specific keys can see through.

Sounds uncool? But it’s effective. Those pursuing extreme decentralization might say this is a betrayal. However, in the eyes of institutions, this is the only way to enter under the EU’s MiCA regulations—"programmable privacy" is the critical line between life and death.