Topic: [ANN] | DUSK Network | Privacy-oriented blockchain for Digital Securities! - page 98. (Read 145674 times)

impressive team. More strengthen by Dmitry Khovratovich as senior cryptographer.  DUSK is definitely best project to watch for 2019.   

Mate, this is not an usual listing. Ethfinex open Token Sale Platform some time ago. And DUCK have initial token sale on their platform. Look:

https://www.ethfinex.com/token-sales/5bd1d37094fae88aff237d13/Dusk-Network

As far as I know, theyre focusing on private sale and private deals/agreements, I think there is no need to conduct a bounty campaign.

I would say its easier to outsource a lawyer then a good tech member who would be loyal to your company and your goal. For me its better their team focuses on this aspect and potentially outsource  legal department.

Dusk is NOT a general purpose smart contract platform.
It is extremely focused on the use cases it intends to unlock and as a result it can be very specific in the strategies it adopts to scale and satisfy the NFRs of the use cases at hand.

It basically focuses on providing the right confidentiality in the 3 different scenario that render the platform a true network:
1 - Unidirectional atomic transfer of value (basically, payments)
2 - Bidirectional atomic exchange of value (transfer of asset ownership - securities fall in this category)
3 - Time unbound exchange of value (transmission of data stream - such as audiovisual conferencing, content streaming, etc)

We are gonna rollout sequentially the three layers of the network, which will each unlock one of these 3 parts
However we believe that 2 is the most critical as it taps into a market which potential is in the Trillions of Euros
Since we are heavily partial for this particular use case, it is very logical that we adjust the protocol to satisfy all the regulations (and not, like in the cases above, adjust the application layer to workaround the protocol limitations)

To give you an example of what we can do on Dusk which would be unthinkable in Ethereum please consider the following feature.

Dusk decouples the (centralized) KYC/AML vendor process from the (decentralized) security issuance and transaction arbitration with the aid of time-locked accumulators. Cryptographic accumulators are ideal for implementing zero-knowledge white/black listing accreditation of (un-)compliant investors and automated accreditation. Also, expiry mechanism can be added for forcing rechecks. It roughly works in the following way: as soon as the KYC/AML process completes, the transactor identifier (basically his registered wallet address, but it can also be something else, i.e. biometric data, etc) is committed to the accumulator, which remains opaque and discloses nothing of its set. A witness (called compliance witness) is thus generated and returned to the applicant. Such witness is the proof of set inclusion. From that point on, all transactions related to that particular asset class (token) must include the compliance witness. Since the info is directly added as payload of our own (improved) version of bulletproof transactions, the need for open data inspection on transaction clearance is therefore removed. The accumulator is stored on-chain (as it basically is just a number) and recheck forcing can happen through a removal operation which activation can be coded trustlessly and can be as simple as a periodic expiry or by encoding more sophisticated rules through a (zk-)smart contract.
Dusk will host the accumulators directly ON CHAIN, since it is line with our strategy to handle scenario nr. 2 of the above list

Ethereum would never do such a thing considering that it would not make sense to store a data structure on chain that is specific for a tiny fraction of its applications (i.e. Polymath and Harbor) and would be completely useless for, say, propositions such as Omisego, Kyber, Basic Attention Token, Bancor, Status, Civic, Aragon, etc etc.

This means that the applications would have to battle against the Ethereum protocol (i.e. move an eventual accumulator off-chain to the detriment of decentralization).

This would have nefarious consequences for scalability as well, considering that these proposition must resort to  continuously calling smart contracts in order to arbitrate the transaction operations (to the detriment of both performance and privacy), while Dusk is in the liberty of enriching the transaction directly with zero knowledge data from the transactors (the compliance witness), leaving absolute liberty over which vendor the issuer wants to rely upon and keeping the centralized compliance-related operations (like for instance KYC/AML) separated from the transaction stream.

that's something I haven't thought of so far. though to be honest I doubt it will matter since they're purpose is not to compete with ETH.

Yeah, really weird. After all, then it turns out that it is in some way airdrop for random lucky?
On the other hand, the team did not conduct a bounty campaign. Incomprehensibly.

yes, due eth price didn't recover and still fall down.
but, i think its good time to recover by joining Dusk network in other phase, maybe 2nd phase min. contribution will be lower

Why do you think that they will need an army of lawyers? These days you need to incorporate your business and make sure you comply with all the AML and KYC regulation. This is what you need a lawyer for.

How easy would it be to launch own token on DUSK blockchain? Like waves easy or ethereum easy?

In one of the update they were saying somebody is going to help them on the legal aspect and from the sound of it, seemed like that was covered. From what come that impression they will need an army of lawyers? 

I partly agree and partly not.
You can't just put a lawyer when needed such a project like dusk network. But right now other parts are more important so i think there is time to put these kinds of people on the board.

That will come as the needs arise. Without a tech what can a lawyer do.

you're right, even though I doubt jurists can say something usefull right now. It is such an unclear area. How many ICO projects claimed they had a legal opinion saying they weren't securities that are now shitting their pants. What's most important right now is official guidelines, laws etc

Maybe they do a second lottery if too many people don't invest.

What concerns me a bit is that there are a lot of team members in Dusk focusing on the tech, but considering the uncertain and fast changing legal status of crypto assets, let alone STOs, they may need way more jurists, lawyers and lobbyists specialized in financial regulation.

Since it also needs KYC, we can't really talk here about any kind of anonimity within. Unfortunately, more and more ICOs require now KYC and completely forget about the inborn feature of crypto - anonimity(

Are you going to provide service (platform) for creating security tokens or you will have just an own blockchain with smartcontracts (like Ethereum, Neo) for creating tokens? And what different between Ethereum blockchain and yours? People able to create security tokens on any blockchain... so why another one?

competition is really good, it helps innovation, it decreases prices, costs, ethereum has a good and functional blockchain, maybe dusk should focus on the characteristics that ethereum does not have, for example, anonymity to be a valid alternative...

The site says that draw winners have no obligation to invest so I guess it is just a free roll?! It is a bit confusing to be honest.