The day before yesterday, I was complaining to a friend in traditional finance, and he threw out a sentence: "RWA on the chain has been talked about for over a year, but truly privacy-preserving and compliant projects are scarce." That really struck a chord with me.

After some thought, the Dusk project is indeed quite interesting. Since 2018, they have been focusing on one thing: building a dedicated Layer 1 for the financial market, allowing real assets like stocks and bonds to be securely on-chain, while also protecting privacy and passing regulatory audits. It sounds simple, but actually doing it is difficult.

Recently, there has been progress. On January 7th, DuskEVM mainnet went live last year. What does this mean? Solidity developers no longer have to struggle so much; they can relatively smoothly build DeFi and RWA applications on it. Coupled with the privacy tool Hedger entering testing, the outline of the ecosystem is gradually becoming clearer.

But what really catches the eye is the collaboration with a regulated Dutch exchange. To put it plainly, they are advancing compliant tokenized securities trading. This "privacy plus compliance" dual insurance scheme is quite rare in the wave of RWA. Most projects tend to focus on either privacy or compliance, but few can do both well.

The road to RWA is still long, but this approach is worth continuous observation. Perhaps in the near future, on-chain finance will present a different face.