#dusk $DUSK @Dusk
Hey, You know.... A special question about @Dusk_Foundation has stuck in my head and has caught my full atention. Yes, listen to my question:
Is it really possible to keep privacy and compliance together?
Yes, in a normal blockchain transaction, sender, receiver, amount, asset - a lot of information is public. But in the Financial market, things are not so simple. Here, verification by the regulator or bank is required, and at the same time, it is not desirable for the entire financial data to be in front of everyone. Dusk's Zero-Knowledge Proofs and Selective Disclosure concept is interesting right here. Suppose, all the information of a transaction is in one place. The bank only checks whether the amount and authorization are valid, the exchange only checks whether the eligibility proof is valid, and the custodian checks the asset and settlement authorization. That means everyone is verifying the transaction, but not everyone is seeing the same information. And yes, it is quite surprising, isn't it?
But yes, I stopped here for a moment.
Because privacy does not just mean "nobody can see anything". Rather, the real question is who can see how much. Dusk's approach therefore seems more interesting to me towards controlled disclosure than anonymity. Of course, this is where it seems a bit strange to me. The more access policies, verification rules and regulatory requirements are added, the more complex system can become. How efficiently this complexity can be handled while maintaining privacy is the real test. However, this division is new to me. Because here, privacy and verification are not seen as opposites of each other, but as separate layers.
But yes, I am not saying that this model solves all problems. How the technology works and how the real financial market will accept it - two different things. But something to think about!🤔
In the end, my question is:
Is privacy really about hiding information or the ability to show the right information to the right person when needed?
I am still thinking about this issue🤔
Hey, You know.... A special question about @Dusk_Foundation has stuck in my head and has caught my full atention. Yes, listen to my question:
Is it really possible to keep privacy and compliance together?
Yes, in a normal blockchain transaction, sender, receiver, amount, asset - a lot of information is public. But in the Financial market, things are not so simple. Here, verification by the regulator or bank is required, and at the same time, it is not desirable for the entire financial data to be in front of everyone. Dusk's Zero-Knowledge Proofs and Selective Disclosure concept is interesting right here. Suppose, all the information of a transaction is in one place. The bank only checks whether the amount and authorization are valid, the exchange only checks whether the eligibility proof is valid, and the custodian checks the asset and settlement authorization. That means everyone is verifying the transaction, but not everyone is seeing the same information. And yes, it is quite surprising, isn't it?
But yes, I stopped here for a moment.
Because privacy does not just mean "nobody can see anything". Rather, the real question is who can see how much. Dusk's approach therefore seems more interesting to me towards controlled disclosure than anonymity. Of course, this is where it seems a bit strange to me. The more access policies, verification rules and regulatory requirements are added, the more complex system can become. How efficiently this complexity can be handled while maintaining privacy is the real test. However, this division is new to me. Because here, privacy and verification are not seen as opposites of each other, but as separate layers.
But yes, I am not saying that this model solves all problems. How the technology works and how the real financial market will accept it - two different things. But something to think about!🤔
In the end, my question is:
Is privacy really about hiding information or the ability to show the right information to the right person when needed?
I am still thinking about this issue🤔