Recently, some strategists have predicted that the US dollar will not decline significantly. At first glance, it seems like a common foreign exchange judgment, but it reflects a deeper underlying logic.

In simple terms, the "de-dollarization" trend has passed. The US dollar system is not collapsing but adjusting. Global capital is no longer aiming for a complete escape from the dollar but is seeking more flexible and safer ways to operate within the dollar framework — this is a qualitative change.

The problem is that the entanglement of various countries with the dollar system has become more complex. Capital involved in multi-regional regulation, cross-border trade, and geopolitical sensitivities is beginning to worry about their transaction data being too transparent and the risk of scrutiny being too high. You can understand, right? Some liquidity indeed needs to operate in a more discreet environment.

This is the real background behind the rise of privacy protocols. It’s not about opposing anyone, but because global finance is becoming more asymmetric and fragmented. Traditional centralized settlement channels are becoming less friendly to certain capital, but fully decentralized solutions cannot fully meet compliance requirements.

At this point, an infrastructure that lies between the two is needed — one that provides cryptographic privacy protections without sacrificing the bottom line of financial compliance. In other words, the market is calling for professional, trustworthy privacy + compliance solutions, rather than the simple "anonymous coins" approach. This is where future competition will lie.