#dusk Ok so......Spent the past few days messing with Dusk's XSC stuff on testnet again, and honestly the compliance-in-the-transfer piece is still what makes me sit up.
Every "tokenized securities" project I've poked at eventually hits the same wall: the token itself is just an IOU, and the actual permissioning who's allowed to hold it, who's KYC'd, who's accredited happens somewhere else, usually a database a lawyer built. Dusk doesn't do that. The eligibility check is part of the contract logic itself, so a transfer either satisfies the rules or it doesn't settle... no separate registry catching up later.🤔
What surprised me more than the privacy angle was realizing it's not privacy in the Monero sense. Nobody's blinded here. There's a selective disclosure layer regulators or auditors with the right key can see what they need, while everyone else on chain just sees a valid transaction and nothing else. That distinction took me longer to actually get than I expected. It reframes the whole "transparent vs private" debate as more of a "who gets to see what" question, which honestly maps closer to how real securities markets already work than most crypto privacy talk does.🗣️
The part I can't get past is the key management question who holds disclosure keys, who issues them, and what happens if that process quietly centralizes even when the protocol itself doesn't.
Do you see that as a dealbreaker, or just an early-stage wrinkle worth watching?
$DUSK
@Dusk_Foundation
Every "tokenized securities" project I've poked at eventually hits the same wall: the token itself is just an IOU, and the actual permissioning who's allowed to hold it, who's KYC'd, who's accredited happens somewhere else, usually a database a lawyer built. Dusk doesn't do that. The eligibility check is part of the contract logic itself, so a transfer either satisfies the rules or it doesn't settle... no separate registry catching up later.🤔
What surprised me more than the privacy angle was realizing it's not privacy in the Monero sense. Nobody's blinded here. There's a selective disclosure layer regulators or auditors with the right key can see what they need, while everyone else on chain just sees a valid transaction and nothing else. That distinction took me longer to actually get than I expected. It reframes the whole "transparent vs private" debate as more of a "who gets to see what" question, which honestly maps closer to how real securities markets already work than most crypto privacy talk does.🗣️
The part I can't get past is the key management question who holds disclosure keys, who issues them, and what happens if that process quietly centralizes even when the protocol itself doesn't.
Do you see that as a dealbreaker, or just an early-stage wrinkle worth watching?
$DUSK
@Dusk_Foundation