#dusk $DUSK @Dusk I was thinking about DUSK settlement. I realized there is a problem that people often overlook.
DUSK can make it easier to own and transfer securities. It can also make it easier to follow the rules. But what if the actual money is still being handled else?
You will have two separate systems and two different records. The timestamps will be different. People may not agree on when the settlement is really final.
This is why I do not think that just putting money on the blockchain is the solution.
If we use money or tokenized money on the blockchain we can bring both parts of the transaction into the same system. This can reduce errors and the time gap between when someone gets something and when they pay for it.. The harder question is whether this money is really trustworthy and whether people can actually get their money back.
We also have to make sure we are following the rules at the time.
So I think we should judge DUSK on more than just whether people can settle transactions, on the blockchain.
The real test is whether DUSK can make the process of exchanging something for money simpler. It should reduce our need to use banking systems instead of just moving our dependence to a different system.
That is where the real advantage of DUSK settlement could be seen.
DUSK can make it easier to own and transfer securities. It can also make it easier to follow the rules. But what if the actual money is still being handled else?
You will have two separate systems and two different records. The timestamps will be different. People may not agree on when the settlement is really final.
This is why I do not think that just putting money on the blockchain is the solution.
If we use money or tokenized money on the blockchain we can bring both parts of the transaction into the same system. This can reduce errors and the time gap between when someone gets something and when they pay for it.. The harder question is whether this money is really trustworthy and whether people can actually get their money back.
We also have to make sure we are following the rules at the time.
So I think we should judge DUSK on more than just whether people can settle transactions, on the blockchain.
The real test is whether DUSK can make the process of exchanging something for money simpler. It should reduce our need to use banking systems instead of just moving our dependence to a different system.
That is where the real advantage of DUSK settlement could be seen.
