Tokenizing real-world assets has become the hottest track in the blockchain industry. Skyscrapers, artworks, corporate bonds... these assets worth trillions of dollars finally have the opportunity to circulate in the digital world in the form of tokens. The problem is, it looks simple but in practice, it’s incredibly complex: How to protect ownership privacy? Are transactions legal? How to pass regulatory scrutiny? Where does cross-chain liquidity come from?

DUSK’s approach is to issue a comprehensive "on-chain passport" for these assets.

What does this "passport" include? First, encrypted property rights registration. The true beneficiary information of the asset is strictly encrypted and not exposed on the chain, but every step of ownership transfer can be clearly traced, protecting privacy while leaving audit trails. Second, built-in automatic compliance verification. Are transactions in accordance with securities laws and tax regulations? These checks are directly embedded into the token logic, and each transfer automatically passes compliance checks. Lastly, cross-chain interoperability. Through a unified technical standard, these tokenized RWAs can be recognized and traded by other compliant public chains supporting the standard, instantly expanding liquidity pools.

What does practical application look like? Imagine a scenario: a fund uses DUSK to bundle its commercial real estate portfolio into tokenized fund shares. These shares are sold to qualified investors worldwide. With each transfer, the system automatically verifies whether the buyer meets investor qualifications and updates encrypted ownership records. The fund manager receives complete audit data, and investors get transparent ownership confirmation. No intermediaries, no legal gray areas.

What DUSK is doing essentially paves the way for the next generation of global digital financial assets. Whether it’s real estate, bonds, or intellectual property, as long as it can be tokenized, it can achieve a balance of privacy, compliance, and liquidity within this framework. This could be the key to the real implementation of the RWA wave.