Mentioning Dusk, many people's first thoughts are "privacy public chain" or "privacy track." However, this labeling is actually quite problematic, as it obscures the core aspects.

Simply put, Dusk does not aim for on-chain transactions to be completely invisible. What it truly seeks to solve is a long-standing yet inevitable challenge: after moving real financial assets onto the blockchain, how to find a sustainable technical solution that balances privacy, compliance, and efficiency.

Looking at the real financial world makes this clear. The financial system is never fully transparent, but it also never operates with indiscriminate openness. Corporate financial data, institutional asset structures, securities trading details—all are disclosed within specific boundaries and are not open to the entire society. Full transparency would disrupt commercial competition, while complete privacy would bypass regulatory requirements. Traditional finance maintains stability through a sophisticated "information tiered mechanism"—defining who can see what under what conditions.

Dusk's approach is essentially to transplant this logic onto the blockchain and rebuild it.

For this reason, Dusk has never placed all its emphasis on "personal anonymous transfers." Such needs do exist, but they are far from enough to support a public chain aimed at future finance. Dusk focuses on the lifecycle of financial-grade assets on-chain—such as securities, RWA, fund shares, bonds, and bills. These are not just simple exchanges of money for goods; they involve issuance, custody, settlement, dividends, and clearing—each step subject to regulation.