RWA track has been hyped for so long, but most projects are still just on paper. The core issue is very simple: as long as on-chain transactions are completely transparent, big money from Wall Street won't come in.

Imagine posting a large order on the blockchain and it's instantly exposed to the entire network. Front-running bots and counterparties react immediately, eating your trade in seconds. No serious institution is willing to take that "naked" risk.

That's why Dusk's recently launched Hedger engine deserves attention. It's not conceptual packaging, but a genuine technological breakthrough — integrating homomorphic encryption and ZK proofs at the EVM layer.

Previous privacy solutions were either impractical (UTXO models only work for transfers, incompatible with smart contracts) or too slow (proof generation crawls like a snail). Hedger is different this time — it allows smart contracts to directly verify transactions without exposing amounts, with proof generation taking only 2 seconds, performance comparable to Web2.

What's more, Dusk didn't overcorrect. The system maintains full auditability — regulators can verify when needed, but competitors want to see your cards? Absolutely not. This is the balance between "trade secrets" and "regulatory compliance."

Once on-chain dark pools truly materialize, institutions can place orders on the blockchain with deep privacy and concealed intent, avoiding front-running risks while accessing DeFi liquidity pools. This is the "dignity" required for institutional-grade trading.

Don't just watch price movements. Infrastructure like this that balances privacy with compliance is the key step to turning RWA from concept into reality.