Something that happened recently has received little attention from the market. BNY Mellon (Bank of New York Mellon) has launched a tool related to on chain data (Digital Asset Data Insights) on Ethereum, which mainly promotes the on chain transformation of fund accounting data by broadcasting net asset value on the Ethereum chain. BNY is the world's largest custodian bank, with total assets under custody reaching around $50 trillion. It has launched on chain data initiatives on Ethereum, although the actions are not significant, for this traditional large institution, any simple action also has its strategic considerations. This represents the beginning of large institutions exploring some future possibilities on Ethereum. A greater possibility prediction is that these institutions may build their own L2 chains or private chains based on the security of Ethereum in the future, which can not only gain the security of Ethereum, but also maintain privacy, asset security, and other encryption benefits (asset traceability, fast settlement, etc.). Previously, BlackRock also launched a tokenized fund (Build) on Ethereum, and custodian banks such as State Street are also exploring the application of blockchain technology. The continuous exploration of these large institutions reminds me of a small event I participated in earlier this month in Hong Kong, where IOSG @ jocyiosg asked everyone in one sentence what Ethereum is? Vitalik (@ VitalikButerin) said that Ethereum is the world's computer. As before, it seems that his ultimate dream is still to have the world: Ethereum should host various different application scenarios around the world. My answer at the time was: Currently, Ethereum is a trustless settlement platform. As long as the settlement of the future digital economy can mainly occur on Ethereum and its ecosystem, Ethereum is already great enough. If this vision can be realized, it is enough to make Ethereum the greatest financial platform in history, carrying the most important part of the future digital economy. This also includes mutual settlement between future AI agents. Of course, all of this is not necessarily inevitable and requires the Ethereum community to be sufficiently eager to implement it, as the crypto world is changing too quickly. If more and more RWAs can occur in the Ethereum ecosystem, the transaction volume and activity level of the digital economy will far exceed today. If Ethereum L1 and L2 are well prepared, the future will be very interesting. Coincidentally, Vitalik proposed the idea of "replacing EVM with RISC-V". Here, we skip all the technical details. If it can really be implemented, it can increase ZK's proof efficiency by up to 100 times. This means that the performance of Ethereum L1 has greatly improved, and the performance advantages of other L1 compared to Ethereum will be difficult to sustain. Of course, the specific implementation will take at least 2-3 years. From this perspective, it can also be seen that Vitalik is actively seeking change, which has a positive impact on Ethereum in the long run. Of course, in the short term, the most important thing is still the application, such as not missing the exploration of multiple track applications such as AI agents. This is of utmost importance.