RWA track has been hyped for so long, yet most projects are still just talking on paper. The core issue is 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 transaction in minutes. In this "naked" state, no real institution is willing to take that risk.

That's why Dusk's recently launched Hedger engine is worth paying attention to. It's not just concept packaging, but a genuine technological breakthrough—integrating homomorphic encryption and ZK proofs at the EVM level.

Previous privacy solutions were either underwhelming (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, smoothness comparable to Web2.

Even better, Dusk didn't overcorrect. The system retains complete auditability—regulators can verify when needed, but competitors want to see your cards? No way. This is the balance between "trade secrets" and "compliance review."

Once on-chain dark pools truly land, institutions can place orders on the blockchain with deep liquidity hiding and intent concealment, avoiding front-running risks while tapping into DeFi's liquidity pools. This is the "dignity" that institutional-grade trading requires.

Don't just focus on token price fluctuations. Infrastructure like this that balances privacy and compliance is the key step to bringing RWA from concept into reality.