Many people talk about blockchain privacy, often equating it with "escaping regulation." But a closer look at traditional finance reveals that privacy is not inherently anti-compliance; rather, it is an essential part of a compliant system. Have you ever seen a bank display customer balances in the lobby? Do fund companies post every transaction detail online? Certainly not. These pieces of information must be protected; once exposed, issues like market manipulation and business leaks will follow.

This logic also applies to blockchain. If blockchain is to handle real financial transaction volumes, it must solve the same problems. There's a project called Dusk Network that has developed an approach called "Auditable Privacy," using zero-knowledge proofs to enable the network to verify that transactions comply with all rules without revealing the specific details. This allows blockchain for the first time to achieve a balance similar to traditional finance: protecting privacy while maintaining trustworthiness.

This is especially critical in the RWA (Real-World Assets) field. Imagine an asset management company issuing $1 billion in fund shares on-chain. If all subscription and redemption records are fully transparent, risk management and strategy execution become impossible. But on such privacy networks, this data is only visible to involved parties and regulators; others cannot see it.

Future regulation will only become stricter, so blockchain cannot remain in a "fully transparent" stage. Instead, it will evolve into a "graded visibility" model—different roles see different levels of information. This infrastructure is gradually being built. In such a network, the value of privacy coins or privacy network tokens is rooted in this structural demand: they are the fuel for on-chain financial operations and an essential component of the future decentralized Wall Street.