The development of Web3 cannot be swayed by numbers and interests alone, but has ushered in a new era of on-chain protocols, which requires us to always keep in mind our position and mission. As Satoshi Nakamoto commented in the Times report on January 3, 2009, "Chancellor prepares second round of aid for banks," quoted in the Bitcoin Genesis Block, the original intention of the design of cryptocurrency is to subvert and replace the traditional financial system.

The birth of Bitcoin blockchain aims to break the shackles of the traditional financial system, build a decentralized financial world, return power to ordinary people, and ensure that everyone can fairly share the value they create.

However, we must be vigilant. The essence of the traditional financial system has not changed. It is still a system controlled by a small number of financial elites, which continuously extracts profits from the general public by controlling assets and financial infrastructure. The original intention of the design of this system is to maintain the status of vested interests, rather than serving the general public.

At this critical moment, the Web3 community must resist temptation and stick to our original intentions to ensure that the development of technology does not deviate from its disruptive and democratizing goals. We cannot let Web3 become a digital replica of traditional finance, but should continue to promote it to become a financial system that truly belongs to the people. Only in this way can we ensure that the revolutionary significance of Web3 is realized and bring more fair, transparent and inclusive financial services to the world.

Beware of CeFi’s potential pitfalls

In the current wave of financial innovation, many projects, especially those targeting the tokenization of physical assets (RWA), seem to simply replicate the model of traditional finance on blockchain technology. This phenomenon is not accidental, but a clear strategy of some major financial institutions, including BlackRock. Their goal is to tokenize all global assets and centralize them into a unified, centralized ledger to achieve control over these assets.

However, this may lead to a disturbing prospect. We are facing a potential reality controlled by a small number of elites who simply use blockchain technology to build a new financial hegemony in the field of digital and physical assets, which not only deviates from the original intention of blockchain decentralization, but may also exacerbate the unequal distribution of resources.

This concentration of power will further deepen control and exploitation of ordinary people, leading to a dystopian future as depicted in the controversial World Economic Forum article “Welcome to 2030: I own nothing, have no privacy, but life has never been better.” (Note: As the founder of Boson Protocol, I have been awarded the title of WEF Technology Pioneer and participated in multiple WEF conferences, which provided me with an insider perspective on the globalization agenda.)

We must be vigilant against this trend and avoid walking into a financial horror movie dominated by centralized finance (CeFi). At the same time, we need to ensure that the development of blockchain technology can truly realize its promise of decentralization and democratization, rather than becoming a tool to strengthen the power of the existing financial elite.

Firmly defend the position of decentralization

It is important to emphasize that as global assets are digitized and converged on blockchains, we need not only moral self-discipline beyond the Web2 era, but also a more solid institutional guarantee. As I explained in the article, Web3, with its decentralized infrastructure, constitutes a strong backing for public freedom, which can resist improper control and value extraction.

In order to resist the risk of centralized control of physical assets, we must build an open and decentralized infrastructure, not only for the marking and trading of assets, but also to maintain a fair, transparent and everyone-participatory economic system. This is our commitment to the future of Web3 and our adherence to the spirit of decentralization.

Shaping the future of the computable economy

As blockchain economist Professor Jason Potts pointed out in an academic paper: “Web3 has the potential to unlock a new computable economy and unleash exponential wealth.”

The key to achieving this ideal future lies in the ability to successfully integrate all types of assets, including physical assets (RWA), onto the blockchain and give them the same firm protection as native on-chain assets.

However, the tokenization of physical assets also faces a core challenge, which is how to ensure the authenticity of the assets and the smooth transfer of ownership. For example, after Alice tokenizes her car, the buyer Bob needs to be sure that he can actually get the car. The establishment of this trust mechanism is crucial to achieving a computable economy and seamless asset transactions.

This leap is critical to the transition to a computable economy because it allows all forms of capital to be seamlessly integrated into the economy with similar assumptions of trust.

Constructing the decentralized foundation of RWA

The RWA Super System is becoming the cornerstone for reshaping the way physical assets (RWA) are managed and traded, and its role is comparable to the rise of decentralized finance (DeFi). This system is a decentralized infrastructure that allows users to easily tokenize and trade RWA, while providing a platform for developers to build applications on existing foundations without having to develop proprietary protocols from scratch.

This super system not only advances Satoshi Nakamoto’s vision of building a financial system owned and controlled by users, but also helps prevent potential manipulation of cryptocurrencies by financial elites and core financial institutions, ensuring the fairness of the distribution of power and benefits.

We are now on the front lines of a decisive battle in the face of uncertainty about the future of web3. We cannot wait until the end of our lives to reflect on whether we did our best. Now is the time to take action to ensure that we build a more open and fair future together. #RWA #去中心化 #DeFi #资产代币化

Conclusion:

With the advent of the web3 era, we are standing at the crossroads where financial innovation and traditional decentralized concepts intersect. The rise of Bitcoin ETFs and the support of financial heavyweights for the tokenization of physical assets (RWA) have injected vitality into the cryptocurrency market. However, we must remain vigilant to ensure that these innovations truly promote an open and fair financial system, rather than simply copying the centralized model of traditional finance.

Therefore, we must act, adhere to the core values ​​of web3, and ensure that technological innovation serves the entire community rather than the interests of a few. By working together, we can shape a truly decentralized digital future, a new era in which everyone can participate and benefit fairly. Let us move forward together to create a more open and fair web3 world for everyone.