Why can't we just copy DeFi and put securities onchain?
I kept thinking about this after looking deeper into Dusk.
If I want to swap ETH for USDC, I connect a wallet, sign a transaction and I'm done.
Now replace USDC with a €10,000 bond.
Suddenly, “just connect your wallet” isn't enough.
Is the person buying it actually eligible?
Can they legally hold that security?
Can they send it to any wallet they want?
And if the transaction is private, what happens when an authorized party needs to verify it?
That's the part I think people miss when they say RWA is just “putting real assets onchain.”
A bond isn't just a token with a price attached to it.
There are rules around who can own it, how it can move and what information needs to be available.
This is where @Dusk_Foundation makes more sense to me.
Instead of treating compliance as something completely separate from the blockchain, Dusk is building things like identity, selective disclosure and programmable privacy into the infrastructure.
So the goal isn't to turn regulated finance into another permissionless DeFi pool.
It's to make the rules around the asset actually work onchain.
That's a much harder problem.
And honestly, that's the part of RWA I find more interesting now.
$DUSK #dusk
What makes RWAs different from DeFi?