When it comes to the RWA (Real World Assets) track, everyone is talking about a trillion-dollar scale story. But insiders know very well—how easy is it to truly bring a warehouse or a bond onto the chain? Just issuing an "asset token" and calling it a day? That's simply not realistic.

Institutions are even more troubled. Legal teams frown at their screens, and risk control departments are busy: Who is the counterparty? How to prevent leakage of price information? Most importantly—can the settlement process seamlessly integrate with traditional systems? None of these questions can be avoided.

In this deadlock, a chain called Dusk is quietly working behind the scenes. It doesn't boast about being a financial super fleet every day; instead, it seems to have tailored a "high-speed corridor" for traditional finance that complies with EU regulations and connects to crypto channels. Recently, it has formed a deep partnership with the Dutch regulated MTF exchange NPEX. It may seem insignificant, but the signal is strong: this is not about hype, but about actually starting to do business.

Honestly, the three main bottlenecks for bringing RWA onto the chain are: too much transparency equals no privacy, compliance requirements are hard to tackle, and settlement efficiency lags behind traditional finance rhythms. Most chains are confident they can handle one or two of these and start shouting about revolution. But the financial system is an organic whole—missing even one link causes the entire process to stall.

Dusk’s approach is a bit different; it aims to solve all these problems at once.

First, privacy. It has integrated zero-knowledge proof technology (zk-SNARKs) directly into the underlying architecture of smart contracts, called XSC. The effect is straightforward: sensitive data such as asset types, price levels, and counterparties involved on-chain are invisible to ordinary users. Compared to those "naked" RWA solutions on the chain, this is the real starting point that institutions can actually use—no large financial institution is willing to expose all their trading information and negotiation chips to the sunlight.

Regarding settlement integration, Dusk is also exploring solutions. The EU’s compliance framework is indeed strict, but because of this strictness, solutions that work in the EU can generally be applied in other markets. Dusk plans to establish a solid compliance foundation in Europe first, then expand outward—this is much more reliable than projects that grow wildly in unregulated places and only realize the need for compliance later.

Of course, there are still many hurdles from concept to actual adoption by major institutions. But at least the direction is right—not just fantasizing about a future of finance, but solving real problems step by step. This is exactly what the RWA track needs most.