What should a financial blockchain actually keep private?
I’ve been thinking about this more since looking at Dusk, and I don’t think the answer is simply “make everything private.” Finance needs transparency. People should be able to check that transactions and rules are being followed. But that doesn’t mean every piece of financial information needs to be visible to everyone.
Take a company making a large payment. It may be important to prove that the transaction is legitimate, but why should competitors automatically get to see sensitive details about the business?
That’s where I find Dusk interesting. It’s a Layer-1 focused on financial applications, and its Confidential Security Contract (XSC) standard supports confidential smart contracts.
What I like about this idea is the balance. You can have information that needs to be verifiable while keeping other details away from unnecessary exposure.
I’m still digging into the technical side, so I’m not claiming this is a simple problem. But I think the basic principle makes sense: not everything needs to be public just because it happens on a blockchain.
For me, the better question is not “public or private?”
It’s what actually needs to be visible, and what should stay confidential?
If you were building a financial app on blockchain, what information would you make public?
#dusk $DUSK @Dusk
I’ve been thinking about this more since looking at Dusk, and I don’t think the answer is simply “make everything private.” Finance needs transparency. People should be able to check that transactions and rules are being followed. But that doesn’t mean every piece of financial information needs to be visible to everyone.
Take a company making a large payment. It may be important to prove that the transaction is legitimate, but why should competitors automatically get to see sensitive details about the business?
That’s where I find Dusk interesting. It’s a Layer-1 focused on financial applications, and its Confidential Security Contract (XSC) standard supports confidential smart contracts.
What I like about this idea is the balance. You can have information that needs to be verifiable while keeping other details away from unnecessary exposure.
I’m still digging into the technical side, so I’m not claiming this is a simple problem. But I think the basic principle makes sense: not everything needs to be public just because it happens on a blockchain.
For me, the better question is not “public or private?”
It’s what actually needs to be visible, and what should stay confidential?
If you were building a financial app on blockchain, what information would you make public?
#dusk $DUSK @Dusk