During the ICO boom in 2017, one important reason for the advocates was that everyone was fair in ICOs, and good assets could be bought equally by retail investors and institutions. Various hundredfold and hundredfold coins represented by ETH did indeed make many ordinary people rich. This is rare in traditional finance, where good assets are almost always acquired by advanced institutions and small circles, and by the time ordinary people reach the stage of taking over the market. However, the following story did not follow the original script. The extremely low threshold for token issuance led to the indiscriminate issuance of tokens, as well as the expulsion of good coins by bad coins. In addition, a large number of VCs fueled the situation, and retail investors gradually became weak and withdrew from liquidity in the game of token issuance. The current RWA craze is actually an upgraded version of ICO, allowing retail investors to buy good assets from around the world, not just limited to current US stock tokens. Imagine that Argentina's bond token, Pakistan's mineral token, Russia's energy token, and even France's wine token - assets that ordinary people do not have convenient channels to invest in - can all be bought on the chain through RWA token in the future. Ordinary people only need to study whether the issuer is a licensed large institution to ensure that they can repay without running away. RWA has made investing more and more fair, testing investors' own cognition rather than their background and social circle. This is the original intention of Bitcoin and blockchain. Anyone can buy Bitcoin at any time, and buying Bitcoin at any time before this moment is profitable. It is also normal for retail investors to hold more coins than institutions. ---Written on the occasion of BTC's xxxth ATH