Combining the sentiments of @ divine_economy and @ WutalkWu about the lack of innovation in encryption applications, let's talk about a recent hot topic we are thinking about: the blockchain technology we used to expect to be combined with many scenarios, such as gaming, social networking, e-commerce, and even many offline businesses, in order to bring about true innovation and value creation, may not exist. The biggest application scenarios for blockchain technology, token economy, and encrypted assets in the future are not the expected innovative applications of crypto native, but rather from two scenarios: One is the rapid migration of traditional web2 businesses onto the chain, with the integration of currency, stocks, and contract rights. Tokens will also enjoy the benefits and corresponding rights brought by real businesses, because only businesses that create real value can promote the positive circulation of the token economy. Otherwise, the so-called token economy would still be idle; Previously, https://((x.com))/qinbafrank/status/1940333593550860614? S=46&t=k6rimWSEbo2D2TXolYcM-A has been discussed here; Secondly, it is natural for AI to incentivize other bots, agents, and even humans to complete tasks through cryptocurrency. Smart contracts, distributed ledgers, and tokens will be the main ways and media for agent to agent, agent to bot, and bot to bot interactions in the future. From this perspective, Crypto may be prepared for a highly digitized society in the future. Have we talked about it before here: https://((x.com))/qinbufark/status/1760491207409745956? s=46&t=k6rimWsEbo2D2tXolYcM-A In the past, there was a statement of ten times efficiency improvement in the field of mobile Internet venture capital investment: only users with ten times efficiency improvement can migrate. The encryption industry has developed to the point where the real ten times efficiency improvement is the issuance, transaction and flow of assets, which are all natural efficiency. That is to say, we have seen that online transactions have begun to take off and the great development of stable currencies, which is essentially a new capital paradigm. Higher capital asset flows bring higher capital efficiency. Have you talked about https://((x.com))/qinba frank/status/1651831494023999490 before? s=46&t=k6rimWsEbo2D2tXolYcM-A This is also what SEC Chairman Atkins said at the tokenization and encryption working group roundtable meeting in May, "On chain securities also have the potential to reshape the securities market, including all aspects of issuing, trading, holding, and using securities. For example, on chain securities can automatically distribute dividends through smart contracts. tokenization can also enhance capital formation, transforming previously illiquid assets into tradable investment opportunities, and blockchain technology is expected to expand the various new uses of securities." From this perspective, the combination of the new capital paradigm of the encryption industry with a large number of traditional web2 businesses, and the upcoming AI agent and bot popularization scenarios should have greater development space. In addition to innovation and entrepreneurship around asset issuance, trading, and liquidity, other efforts to implement blockchain technology in specific business scenarios may have gone in the wrong direction from the beginning.