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There is a concept in medicine called targeted therapy. Unlike traditional chemotherapy, which is like a "carpet bombing"—killing both good and bad cells—it can precisely lock onto the biological markers of cancer cells, directly attacking the lesion and protecting healthy tissue to the greatest extent.
When applied to our financial system, the question arises.
How does traditional finance do it? To prevent opacity and fraud risks, they layer on multiple safeguards: banks, clearinghouses, custodians—one after another. KYC/AML processes are so lengthy that everyone gets annoyed, settlement cycles often take several days, and audit fees are exorbitant. In simple terms, this is like performing a "indiscriminate chemotherapy" on the financial system—using complex intermediaries and procedures to eliminate trust deficits. The result is a bloated, inefficient system with prohibitively high costs.
Blockchain has tried a different approach. It advocates for complete transparency—put all data on-chain—so that no one dares to cheat. It sounds ideal, but the problem is: total transparency means losing business secrets and exposing personal financial privacy. In medical terms, this is like treating fraud while simultaneously burning the "healthy organization" of privacy.
So the real question is: can we develop a "targeted therapy" for the financial system? One that can accurately identify and eliminate fraud risks while protecting legitimate business and personal privacy?
Dusk Network’s design philosophy, in a sense, is an attempt at such precision medicine. It does not pursue extreme transparency or stronger anonymity but aims to establish a mechanism that can distinguish between "benign privacy" and "malignant fraud"—like molecular probes, precisely locating problematic cells and administering targeted treatment. This is a very interesting direction.