When it comes to the RWA (Real-World Assets) track, the more I look at it, the more I feel there's an unavoidable issue.

Compliance and openness—can these two really be achieved simultaneously? Most projects answer by building private chains or consortium chains. It seems to solve regulatory concerns, but in reality, it’s like digging a hole for yourself—assets are on-chain, but liquidity is dead. Without the composability of DeFi and support from large stablecoin liquidity pools, such on-chain assets are essentially locked in a safe. What's the point?

The key question is: how to maintain a "compliance fortress" while also accessing the liquidity ecosystem of public chains?

Recently, I looked into Dusk Network’s architecture design and found their approach quite interesting. They’re not trying to take over all the links in the chain but instead position themselves as the "source of asset issuance and clearing." Coupled with Chainlink CCIP’s cross-chain solution, the logic becomes clear.

Within this framework, Dusk acts like that "golden ledger." Enterprises can issue tokenized bonds on it, utilizing its privacy mechanisms to complete KYC and primary market allocation. Then, through CCIP bridges, these assets can connect to mainstream chains like Ethereum and Arbitrum. Over there, these assets become tradable tokens—able to be exchanged, collateralized, and borrowed against.

This division of roles actually maximizes each platform’s strengths.