Tokenization of real-world assets faces a dilemma—regulators are generally concerned about "black box trading," while traditional public blockchain solutions either sacrifice privacy for transparency or choose privacy but become completely unauditably.

There is a project called Dusk Network that aims to solve this problem from a different perspective. Its core tools are the Zedger transaction model and the XSC (Confidential Secure Contract) standard. Simply put: ordinary users enjoy privacy protections similar to cash, but asset issuers and regulators can decrypt transaction details when needed using a "view key."

What’s interesting about this design is that it embeds the audit interface directly into the protocol layer. When enterprises issue on-chain bonds or equity, it satisfies the privacy needs of holders while also providing a complete proof of fund flow. In contrast, many projects are still trying to fight regulation, but Dusk Network uses technical means to reduce compliance costs.

Currently, this standard is a rare solution in the market that balances privacy protection and compliance obligations, which could offer valuable insights for the RWA (Real-World Asset) track.