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Dusk prepares for mainnet launch with compliance focus

Dusk prepares for mainnet launch with compliance focus

GrafaGrafa2024/10/10 03:45
By:Mahathir Bayena

Emanuele Francioni, CEO of Dusk (CRYPTO:DUSK), a layer-1 blockchain protocol focused on privacy and regulatory compliance, recently discussed the company’s progress during an AMA. 

Dusk is gaining attention for its unique “Succinct Attestation” consensus mechanism, which enables the onchain issuance of regulated assets. 

Francioni highlighted Dusk’s upcoming mainnet launch and its regulatory strategy, particularly targeting European markets.

During the AMA, Francioni explained how Dusk’s distributed ledger technology (DLT) enhances efficiency in securities processing. 

By recording securities directly on the blockchain, Dusk eliminates the need for costly reconciliation between different systems, a process that traditionally slows down financial markets. 

Francioni stated, “With Dusk, the complexity of synchronizing multiple systems is removed.”

The CEO also revealed Dusk’s partnership with NPEX, a Dutch stock exchange, where he now serves as chief technology officer. 

NPEX is updating its infrastructure using Dusk’s technology, which is expected to streamline trading operations and align with Europe’s regulatory framework. 

According to Francioni, “This collaboration puts us in a unique position to offer infrastructure tailored for Europe’s regulations.”

Addressing regulatory challenges, Francioni discussed Dusk’s compliance efforts with evolving European regulations such as the Anti-Money Laundering Directive (AMLD) and Markets in Crypto-Assets Regulation (MiCA). 

Dusk postponed its mainnet launch to ensure full regulatory compliance. 

The company's privacy model, Phoenix 2.0, balances privacy with regulatory requirements, offering user anonymity while meeting compliance standards.

Francioni emphasised Dusk’s ambition to become a key infrastructure provider for Europe’s regulated financial markets. 

Dusk is pursuing a DLT-TSS license, which would enable it to better serve these markets. 

At the time of writing, the Dusk price was $0.1922.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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