I trust the "delivered" notification more than I should. the app says it arrived. the package is actually still sitting on the porch, not yet in your hands, not yet actually yours in any way that matters if something goes wrong between those two moments
that gap keeps coming back to me with tokenization. most of what gets called tokenizing an asset is really this. a bond exists somewhere, a token gets minted that represents a claim to it, and the token is treated like the asset itself, when it's actually the delivery notification, not the package
Dusk's bet on native issuance is trying to close that gap instead of living inside it. instead of an asset existing offchain and a token pointing at it, more of the actual lifecycle, issuance, transfer, settlement, happens where the token lives. through NPEX, a bond issued natively on Dusk isn't a receipt for something sitting in a registrar somewhere else, the registrar and the chain are meant to move together
I don't know yet how clean that actually is once it's tested at real volume, whether every corner of a Dutch BV structure or an MTF's obligations moves as cleanly onchain as the pitch suggests. Dusk is upfront that native issuance still depends on the venue's own authorization and setup, this isn't magic, it's a different division of labor
same word, tokenization, but a different distance between the token and the thing it's supposed to be. I'm still working out how much of that distance actually closes versus just gets described more precisely
#dusk @Dusk $DUSK
that gap keeps coming back to me with tokenization. most of what gets called tokenizing an asset is really this. a bond exists somewhere, a token gets minted that represents a claim to it, and the token is treated like the asset itself, when it's actually the delivery notification, not the package
Dusk's bet on native issuance is trying to close that gap instead of living inside it. instead of an asset existing offchain and a token pointing at it, more of the actual lifecycle, issuance, transfer, settlement, happens where the token lives. through NPEX, a bond issued natively on Dusk isn't a receipt for something sitting in a registrar somewhere else, the registrar and the chain are meant to move together
I don't know yet how clean that actually is once it's tested at real volume, whether every corner of a Dutch BV structure or an MTF's obligations moves as cleanly onchain as the pitch suggests. Dusk is upfront that native issuance still depends on the venue's own authorization and setup, this isn't magic, it's a different division of labor
same word, tokenization, but a different distance between the token and the thing it's supposed to be. I'm still working out how much of that distance actually closes versus just gets described more precisely
#dusk @Dusk $DUSK
