RWA has been a hot topic for so long, but most projects are still just talking on paper. The core issue is simple: as long as on-chain transactions are fully transparent, big Wall Street funds won't come in.

Imagine you place a large order on the blockchain, and it's instantly seen by everyone. Front-running bots and competitors react immediately, eating up your trade in minutes. In this "naked" state, no serious institution is willing to take that risk.

That's why the recent launch of Dusk's Hedger engine is worth paying attention to. It's not just a concept; it's a real technological breakthrough—integrating homomorphic encryption and ZK proofs at the EVM layer.

Previous privacy solutions were either ineffective (UTXO model only supports transfers, not compatible with smart contracts) or too slow (proof times crawling like snails). Hedger is different—allowing smart contracts to verify transactions without revealing amounts, with proof generation taking only 2 seconds, offering a Web2-like smooth experience.

What's more, Dusk hasn't gone overboard. The system retains full auditability—regulators can verify when needed, but competitors can't see your cards. This balances "business secrets" with "compliance review."

Once on-chain dark pools are truly implemented, institutions can place orders on the blockchain with deep concealment and undisclosed intentions, avoiding the risk of front-running while accessing DeFi liquidity pools. This is the "dignity" that institutional-grade exchanges require.

Don't just focus on price fluctuations; infrastructure that balances privacy and compliance like this is the key step to turning RWA from concept to reality.