A transaction starts long before anything reaches the chain. You find a counterparty → communicate → negotiate → exchange information. And at each step, you depend on infrastructure that can expose information, fail, or give a third party an opportunity to interfere. Securing settlement is not enough if everything leading up to it remains exposed. Patching the points where exploitable data leaks requires more than a private ledger. The systems used to discover, communicate, coordinate, and access information need privacy too. Logos.