Spent some time digging into Dusk again lately and I keep coming back to the same thought. Everyone in the RWA space is obsessed with putting assets onchain, like that's the actual challenge. Honestly it isn't. Tokenizing a bond or a share is just moving a record to a different database. The real bottleneck is who's legally allowed to hold it.

That's where Dusk does something most chains skip. They build investor eligibility into the protocol itself, so KYC and transfer rules are enforced natively instead of patched on later. Sounds dry, but this is exactly why most tokenized securities go nowhere. Institutions can't hold assets that might end up in some random anonymous wallet. It's like running a stock exchange with no ID check at the door. Fun idea, completely unusable for real money.

But I'll be honest about the tradeoffs. Compliance at the base layer means trusting whoever approves the credentials. That's centralization, whether we like the word or not. And if the pool of eligible investors stays small, liquidity gets thin fast. A compliant asset nobody trades is just an expensive PDF.

Still think this is the right fight to pick, though.

What matters more for RWA long term?

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