Last week the Dusk team gathered in Amsterdam to work together, in person, for the final push to mainnet.
We took the opportunity to host a video AMA with co-founder and CEO Emanuele Francioni, you can find the summary and the full recording below!
What’s the Purpose of In-Person Work Weeks?
In-person work weeks offer several advantages that can be challenging to achieve in a fully remote work environment. They allow teams to come together and work intensely on specific problems. These focused sessions are vital, especially when dealing with complex issues. For our team, these in-person work weeks are particularly crucial before the launch of our mainnet. They serve as a concrete checkpoint to address any potential challenges and provide an opportunity for productive discussions about pending tasks and overall coordination.
How Is the Workweek Progressing, and What Has Been Accomplished So Far?
The workweek has been going exceptionally well. We've been focusing on several key aspects, including refining our roadmap for the upcoming months and setting specific milestones to ensure we're on track. On the organizational front, our founders and management team came together to evaluate our overall structure and establish future goals. In terms of financial health, we recently released our annual report, confirming that we are in good shape. However, we're committed to maintaining this financial stability in the years ahead.
From a technical perspective, we've been dedicated to fine-tuning our economic protocol, which was one of the last pieces requiring specification. Additionally, we've been making progress on various critical components, with a particular emphasis on developing the web wallet.
Our strategic meetings with potential partners have also been fruitful. Notably, we've decided to collaborate with a key party to establish a business arm focused on implementing the Security Token Exchange (STE).
Dusk’s Team Stands Out for Their Commitment to Improving Finance
It's essential for our entire organization to stay aligned with our mission and vision. While opinions about the cryptocurrency market and Distributed Ledger Technologies (DLTs) may vary, one undeniable strength lies in the capacity to create an interoperable infrastructure. This infrastructure allows licensed institutions, such as Multilateral Trading Facilities (MTFs) and security exchanges, to streamline their technical systems, enhancing efficiency and operational evolution.
Our primary focus is on the securities realm and real-world assets. We aim to provide a common platform where these institutions can offload their systems, reducing reliance on intermediaries like brokers and Central Security Depositories (CSDs). The DLT technology we offer enables rapid transaction validation, contrasting with the lengthy processes of clearing houses. By establishing an interoperable network, we intend to standardize and lower costs for MTFs, shifting the emphasis from primary issuance to secondary market activities.
Our vision is to bring the same level of liquidity and opportunity to the regulated financial world as is seen in the world of cryptocurrencies.
How Does All of This Benefit the General Population?
Improving financial freedom is often hindered by the difficulty of liquidating illiquid assets, such as bonds and equities. By enhancing liquidity and reducing barriers to entry, we are working towards a more efficient financial system. This translates to greater possibilities and opportunities for financial freedom, as individuals can more easily access and exit their investments.
Is Dusk Trying to Attract Mass Adoption?
Dusk isn't targeting the masses. Our focus is on a specific, well-defined audience. If even a small percentage of this target group adopts our protocol, it will result in a substantial number of transactions. Currently, our efforts are concentrated on asset issuance, coupon payments, and share registration, which represent a significant volume of transactions. We haven't yet reached the stage of mass adoption. Our priority is first to serve institutions and provide them with the tools they need to streamline their operations. Only after these crucial steps will we expand to a broader user base, including retail investors and organizations. Our commitment to our focused approach remains unwavering.