Before looking into it carefully, I always thought @Dusk_Foundation was also following the familiar RWA narrative: bringing real-world assets onto the blockchain and tokenizing them.

At that time, I had never really verified what infrastructure #dusk was building behind it. So, I decided to research more deeply how Dusk is working with NPEX and pursuing DLT-TSS.

The result was more nuanced than I expected.

There is one point that matches what I thought: Dusk is indeed aiming to bring real-world assets onto the blockchain.

But what surprised me is that they do not just want to tokenize assets. NPEX is a Dutch stock exchange fully licensed by the AFM and Dusk is aiming to bring the entire regulated issuance, trading and settlement process on-chain.

The real issue is not about tokenizing more assets.

It is about how to issue assets directly on-chain while still maintaining legal validity and compliance.

Native issuance can turn on-chain assets into legal records rather than just a wrapper. Atomic settlement and corporate actions can also be executed through code.

Looking back, I realize that I approached the issue with the assumption that Dusk was simply building a privacy blockchain and then leveraging the RWA narrative.

Perhaps I should have looked at NPEX and DLT-TSS earlier.

The research process did not make me think that Dusk has solved everything. It simply made me realize that the direction is clearer: building infrastructure for regulated markets, with privacy and compliance from the beginning.

Therefore, my perspective on Dusk has also changed.

I still want to see DLT-TSS completed and more assets brought on-chain. But the most notable thing is: institutions already have the market and regulatory framework - $DUSK is trying to bring those very things on-chain.
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