I am an observer who has been tinkering in the crypto world for several years. Last week, I gathered with a few friends, and a buddy from an investment bank asked a piercing question: "You guys always talk about how awesome DeFi and blockchain are, but which project can truly make institutions like us feel comfortable using it?"

This question made me ponder for a long time. I realized that many people simply see public chain competition as a race of speed and cost, but that's just the surface. The real bottleneck is a seemingly unsolvable problem: decentralization, privacy protection, and financial compliance—can these three things be achieved simultaneously?

Most projects in the industry tend to sacrifice one of these aspects. But some teams think differently—they want to directly tackle this triangle head-on. Dusk Network is such a player. Rather than just being a "chain," it’s building a "privacy computing infrastructure" specifically tailored for modern finance.

Here's a very practical example. A European green energy company wants to issue bonds for financing and also aims to turn carbon metrics into tradable assets. Using traditional methods, all the issuance details, investor lists, and trading counterparties would be on-chain—equivalent to exposing business secrets directly. But if they choose a fully anonymous chain, regulators and institutional investors would have no way to ensure compliance. This creates a dead end.