I saw CZ mention all in again in Hong Kong 1. AI+blockchain 2-RWA 3- Stablecoins What I didn't expect was that he stood at the top of the cryptocurrency circle and saw three directions that were exactly the same as what we ordinary people saw earlier this year. Regarding RWA, he mentioned that "some people say that cutting 10000 units of luxury homes and putting them on the chain is RWA, and ordinary people cannot live even if they buy one. The real opportunity lies in stocks and bonds. This is the problem that has been bothering me for a long time. Now it seems that everyone has the same idea. Real estate assets on the chain are only applicable to traditional financial assets in the real world. But is it really meaningless to put luxury homes and cars on the chain? I think in order for blockchain to be meaningful, it is necessary to balance hype and practicality. Dividing into 10000 parts is meaningless, but dividing into 365 parts makes sense, or dividing into 12 parts, where the first part can be further divided into 31 parts and the second part can be divided into 28 parts. To put a luxury car on the chain, the first step is to have a financially strong or reputable intermediary company that can handle it. Then we should do real asset NFT fragmentation instead of tokenization. Once it is on the chain, NFT will be generated immediately, and the price will be benchmarked against the real world price. Car owners can divide it into 12 numbered NFT hanging transactions, and you will have control over the NFT for the month you hold it. Users who hold NFT corresponding to a certain month can continue to fragment NFT, dividing it into 28-31 parts (based on actual days), and then selling or leasing this part of NFT. At this time, there will be price differences between each fragmented NFT, and there is also some room for speculation. If Jay Chou discovers this project at this time and wants to come in and try it out, he will buy a July NFT of this luxury car, which will possess the characteristics of the Autumn Mountain Car God, and the NFT of the same series in other months will also skyrocket. The owner will say that Jay Chou and I jointly own a luxury car, and the luxury car NFT has the potential for high-quality assets. The space for speculation will become larger, and there will be a large influx of speculative users. But it also faces more problems. The first issue is that digital assets are not legally protected in many countries. Attempting to use NFT to allow original owners with complete legal protection certificates to regularly sell luxury cars without constraints is not feasible. Unless he pledges equivalent funds to the intermediary platform, or the intermediary platform completely purchases the real assets. The second issue is that management is very complicated. You cannot guarantee that car owners from February can smoothly hand over their payments to March, unless it is also a pledged deposit. The third issue is the existence of vehicle damage, which requires a vehicle condition inspection during each handover. The repair cost is deducted from the deposit and then refunded, which is also very troublesome. Of course, the most important thing is that Virgos like me would never accept sharing an asset with others. I flipped from turning off the lights to 12:30 pm last night, but I never expected how much space there would be for real assets to be put on the chain, except for traditional financial assets with speculative characteristics such as stocks and bonds. It could also be that I am currently observing from a narrow perspective and unable to glimpse the grand scene of a large number of high-value real assets being fully put on the chain someday in the future. When I quit my job one day, I will start a RWA company like this and seek investment from CZ. @cz_binance @heyibinance