#RWA热潮 is putting houses, bonds, and company equity on the blockchain, which sounds like the future of finance, but in reality, it’s just traditional assets wearing a blockchain vest. Traditional finance has always been heavily bureaucratic; can these on-chain things really circulate freely? It might turn into 'on-chain approval + smart control.' What about regulation? As long as you don't obediently comply, you could be made to 'zero out off-chain' in no time. In short, it looks lively, but when playing, you still have to be obedient.