This article is reprinted with permission from Baihua Blockchain, author: Cole, copyright belongs to the original author.

A few days ago, I went to Hong Kong and heard that the old money institutions attending the conference did not have a deep understanding of Crypto or blockchain, but when RWA was mentioned, their eyes lit up. The level of RWA's breakout is no less than that of NFTs in the last cycle.

RWA and AI are the narratives most sought after by institutions in this bull market. They promise to bring trillions of dollars of real-world assets on-chain, achieving unprecedented efficiency and transparency. "Practicality is king" is the slogan of this bull market, and you may be rushing into these infrastructures, hoping to become a long-term value holder.

However, please stay clear-headed: whether the value narrative can be realized depends on whether it can cross the critical "trust gap."

For RWA, the core obstacle is the oracle problem. The blockchain itself cannot securely access external data. If the value of on-chain assets must rely on off-chain, centralized data sources or legal documents to determine, then what is the point of the blockchain's decentralization advantage? This off-chain dependency not only increases technical risks but also makes value anchoring extremely unstable.

For AI, you need to be wary of centralized custody and agent risks. When an AI system is hosted by a single provider, the problem of "agents having the motivation to steal from the principal" inevitably arises. Additionally, the decision-making process of AI lacks transparency, and if the algorithm goes wrong, it could lead to significant losses for you.

For the hot narratives of RWA and AI, you must distinguish between "institutional interest" (i.e., speculation) and "project feasibility" (i.e., hard power). If a project still has fundamental trust gaps, even the grandest narrative may ultimately become a new technology bubble.

Practicality is the future, but technological and regulatory bottlenecks are the harsh reality. What are your thoughts on the development of the RWA and AI sectors?

Related: ByteDance's equity "on-chain"! Derin Holdings boldly strategizes RWA tokenization

Original article: “Beware of Institutions 'Drawing Cakes', Are RWA and AI the Next 100x Opportunities or Just New Tech Bubbles?”

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