The more I think about composability for regulated assets, the more I see a problem that isn't talked about enough.
DeFi assumes that assets can interact freely.
Regulated finance can't always work that way.
An institution may want a tokenized asset to interact with other onchain applications, but that doesn't mean every participant should be able to see the underlying positions, counterparties, or sensitive transaction details.
That's where Dusk's approach to programmable privacy becomes more interesting to me.
The goal isn't to make the asset invisible.
It's to let the asset remain usable onchain while controlling which information can be disclosed and to whom.
That creates a different kind of composability.
Not “everything can see everything.”
More like “the right applications can interact without exposing everything underneath.”
Self-critique: I used to think composability and privacy were naturally working against each other.
Maybe the real challenge is designing the rules between them.
Because for regulated assets, the most useful system may not be the most open one.
It may be the one that knows what should stay private.
Question: What matters more for regulated DeFi?
$BTW
$HEMI
$DUSK

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