Dusk Network’s Biannual Report 2020

Collecting six months of technical & business developments in one place, providing a comprehensive overview of our progress as we build the privacy blockchain of the future.

2020 has been a productive and fruitful time for Dusk Network in an otherwise tumultuous year. The expansion of our technical developments has been matched by the rapid pace of our business developments, and both promise an extremely strong end of year performance.

Our Biannual Report covers the developments that occurred during the months of April to October, along with our financials, team insights, news highlights, staking statistics, and what we envision for the financial ecosystem of the future.

Our Vision

We envision a financial industry that embraces innovation and provides equal opportunity for any organization to secure capital, trade assets and access a full spectrum of financial services. We execute on this vision by creating a global digital infrastructure. A blockchain-based digital infrastructure. A blockchain-based ecosystem for the issuance, trading and management of programmable digital assets that meet compliance standards.

Previously, providers of financial services were unable to reap the benefits of public & permissionless blockchain technology because there was no way to keep confidential information private and secure. 

Through our privacy-compliant blockchain protocol, we pave the path for global collaboration while remaining compliant with local and international legislation. 

The main highlights of the report:

- Strategic partnerships include the USD $1 million+ investment by our ecosystem partner iFinex Inc. to accelerate Security Token Exchange project Dawn; participation in discussions regarding a possible CBDC; a new method of investing in high-tech ventures called Vertical® Funding and more

- We report a solid USD $7.2 million treasury balance, of which the majority is held in cash reserves, we can execute on our ambitions well into 2023

- Our pre-staking program attracted 400+ staking participants, locking away over 15% of the DUSK circulating supply, and indicating strong community support

- There is a lot happening in the blockchain industry regarding regulatory clarity. Whenever there is any relevant news regarding legal aspects, our partner WatsonLaw is consulting us on possible outcomes and consequences, so we are always well informed

- We are exploring the opportunity to apply for a €30 million grant in the R&D and innovation category of the Dutch Growth Fund (Nationaal GroeiFonds)

We believe transparency is key, and through this report we allow our community to take an intimate look at our progress over the past months.

DOWNLOAD THE FULL REPORT HERE

About Dusk Network

Dusk Network is the Privacy Blockchain for Financial Applications. Our mission is to enable any size enterprise to collaborate at scale, meet compliance requirements and ensure that personal and transaction data remains confidential. Companies use the Dusk Network blockchain to issue tokens, trade and collaborate via smart contracts.

Should you have any questions or interview requests or issues downloading, contact our spokesperson Sabine de Witte; sabine@dusk.network

About Dusk Network

Dusk Network is an open source blockchain for financial applications. Data protection and privacy-preservation play a major role in Dusk Network, as well as its design for regulatory compliance. The blockchain is eco-friendly, thanks to its Proof-of-Stake consensus mechanism; a novel and efficient method of reaching agreement on the current state of the global ledger. Notably, the blockchain supports privacy-friendly smart contracts. Companies use the Dusk Network to power financial applications, issue tokens, trade and collaborate on a global scale. Dusk Network is built by a team of experts from Amsterdam, the Netherlands.

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