Read a line in the Dusk docs on Sunday that looked small and isnt.
compliance checks enforced in smart contracts instead of manual back office processes.
sit with what back office actually means. a person checking a list. a second person approving the first. a file reviewed a week later. eligibility, limits, transfer restrictions, all real rules enforced by humans reading records after the fact
moving that into the contract changes WHEN the rule applies, not just who applies it. the transfer either satisfies the conditions or it doesnt execute
a rule checked afterwards is a rule that was already broken once
Uhm, and this is the opposite of how crypto normally talks about compliance, which is usually as an obstacle bolted on at the edges. here its written as logic reflecting real obligations.... eligibility, limits, reporting, recovery, settlement
whether regulators accept code as a substitute for process is a question I cant answer. institutions move slowly on exactly this and probably should....
whats your take
@Dusk_Foundation #dusk $DUSK
compliance checks enforced in smart contracts instead of manual back office processes.
sit with what back office actually means. a person checking a list. a second person approving the first. a file reviewed a week later. eligibility, limits, transfer restrictions, all real rules enforced by humans reading records after the fact
moving that into the contract changes WHEN the rule applies, not just who applies it. the transfer either satisfies the conditions or it doesnt execute
a rule checked afterwards is a rule that was already broken once
Uhm, and this is the opposite of how crypto normally talks about compliance, which is usually as an obstacle bolted on at the edges. here its written as logic reflecting real obligations.... eligibility, limits, reporting, recovery, settlement
whether regulators accept code as a substitute for process is a question I cant answer. institutions move slowly on exactly this and probably should....
whats your take
@Dusk_Foundation #dusk $DUSK