As we step into 2026, the story of blockchain has evolved from purely virtual assets to a new phase involving real-world assets (RWA). But the fundamental challenge facing the industry remains the same—how to ensure the transparency of public blockchains while satisfying financial institutions' desire for data privacy?

Traditional financial giants have been cautious over the past few years, and the reason is simple: data leaks. If large transactions are fully transparent and exposed, they are not only vulnerable to front-running by arbitrageurs but may also violate increasingly strict financial privacy regulations in various countries. This tough nut has long been difficult to crack.

Until breakthroughs in privacy public chain technology changed the game. Using cutting-edge zero-knowledge proof technology, a seemingly contradictory requirement has finally been achieved: "Auditable Privacy." What does that mean? Companies no longer need to reveal transaction details; they can prove compliance to regulators solely through mathematical proofs.

Looking at Europe's recent actions, we can see how powerful this logic is. Several top private banks have begun issuing digital securities on privacy public chains. What they value, besides the technology itself, is a core concept: embedding compliance logic into the code. The so-called Confidential Securities Contract standard directly incorporates KYC and anti-money laundering rules into the token layer, ensuring that every step of asset transfer in the secondary market remains within legal boundaries.

This is not just a simple technological iteration but a genuine handshake between traditional finance and the blockchain world.