Having navigated the crypto market for years, I've seen many cycles of boom and bust. The ICO craze of 2017, the DeFi wave of 2020, the NFT frenzy of 2021—each cycle just rolled by one after another. Now, as we start 2026, I believe the rhythm of this cycle is quite clear—RWA (Real World Asset on-chain) is the true mainline.

The problem is, the market is filled with noise. There are so many projects claiming to be RWA that it's hard to count, and among them, some are genuine investments while others are pure scams. After reviewing over a hundred projects, my attention has focused on Dusk Network. Today, I want to set aside price fluctuations and have a good discussion—why I believe Dusk could become a bridge between traditional finance and Web3.

**The "Deadlock" of Traditional Financial Institutions**

Anyone who has dealt with large financial institutions knows that their entry into the crypto market is hindered by two main issues: privacy protection and compliance requirements.

JPMorgan, for example, can't reveal all their trading strategies and secrets on a public blockchain—that's their core confidential information; but from another perspective, they also dare not trade on fully anonymous chains, or they risk being targeted and fined by the SEC at any moment. This creates a deadlock cycle of "privacy—compliance—decentralization."

Dusk's strength lies in its ability to break this deadlock using zero-knowledge proof technology. Through its original Hedger solution and Citadel digital identity system, Dusk has created a trading space that is both confidential and compliant. In this system, transaction details can be hidden, and participants' identities can be constrained by the mechanism framework. This is exactly what traditional financial institutions truly need.