Dear friends who have been navigating the crypto world, 2026 has already begun, and the underlying logic of the crypto market is being completely rewritten. Do you remember when ETFs first became popular last year? This year's main story has shifted to RWA—Real World Asset Tokenization. This is not some vague concept hype; according to Boston Consulting Group's estimates, by 2030, the tokenization scale of illiquid assets could surpass $16 trillion. This number says it all.

But there's a rather painful phenomenon: why do financial giants like BlackRock and JPMorgan Chase always show an "love and hate" attitude towards public blockchains? The love is real—T+0 settlement, low costs, transparent processes. But the hate is also real—on traditional public chains, your holdings data, counterparty information, and business strategies are all exposed openly on the chain. For financial institutions, this is simply a business taboo. Privacy and confidentiality are not optional but fundamental requirements.

So the question is: how can we enjoy the efficiency benefits of blockchain without sacrificing the privacy needs of financial institutions? This bottleneck problem is being solved by a new wave of Layer 1 innovators focused on regulated financial infrastructure.

The true solution is not just patching the existing framework but starting from the underlying protocol. The key technology is Zero-Knowledge Proofs (ZKP)—this is the real "Holy Grail" of privacy finance. Through ZKP, contract logic can be both transparent and private: validators can confirm transaction validity without seeing the specific details. It's like verifying a check’s authenticity without knowing the exact account balance.

The core lies in independently developed virtual machine architecture. It supports confidential logic execution for smart contracts, which is a first-mover advantage globally. In other words, while other public chains are still struggling with privacy and compliance dilemmas, this solution already achieves both. This underlying capability difference determines the future competitiveness of institutional adoption.

From a market perspective, the real opportunities in the RWA track will not be given to projects that only hype concepts. Large funds and institutions are truly interested in infrastructure providers who understand financial compliance logic and master cutting-edge privacy technologies. 2026 is not a year of false prosperity for RWA but the start of a real elimination race.