At the node of deep differentiation in the cryptocurrency market in 2026, we are witnessing a highly symbolic phenomenon—— The projects that were once sustained by air narratives are gradually fading away, while the infrastructure that truly touches the capillaries of the real economy is ushering in its "Age of Discovery" of accumulation and development. I have recently delved into the "On Chain World Declaration" released by @ DomSchiener, the founder of @ iota, and the podcast exchanged between @ Wuhuoqiu and the founder. I deeply feel that this is not only a project white paper, but also a practical review of how blockchain can reconstruct global trade. I am trying to start from the underlying business logic and dissect how this decade old infrastructure veteran has delineated its territory in the $35 trillion global trade market through vertical integration. This is a deep observation about pragmatic blockchain. It is recommended that friends interested in RWA and digital infrastructure read it carefully: TLDR； IOTA has chosen an extremely difficult, time-consuming, but deeply guarded road. It does not pursue the myth of short-term inflation, it pursues' irreplaceability '. When 1% of global trade documents are digitized and run on top of IOTA, this network will transform from an experimental object into an indispensable nervous system for the global economy. Salute to those builders who do not chase short-term noise and pioneer in the real economy. In 2026, we are at a great turning point where blockchain is transforming from a "toy" to a "tool". one ️⃣ The origin of logic: why global trade? But not general DeFi? At present, the L1 track is extremely saturated, and most public chains are killing each other in a narrow inner loop for stock liquidity. The brilliance of IOTA lies in its awareness of "asymmetric competition". Global trade accounts for about 30% of global GDP, but its underlying operating system is extremely ancient: Efficiency Depression: There are 4 billion paper trade documents circulating globally every day, and a simple cross-border order may involve 30 institutions and 240 copies. High friction: Trade related administrative expenses account for 20% of transaction volume, and losses caused by forged documents can reach billions of dollars annually. Financing gap: Small and medium-sized enterprises face a $2.5 trillion financing gap as banks are unable to transparently verify the authenticity of the trade chain. IOTA has not gone beyond the zero sum game of Memecoin, but has directly entered this highly dominant blank field that has been overlooked by traditional tech giants by addressing the pain points mentioned above. two ️⃣ The Power of Neutrality: Why did IOTA succeed and IBM fail? Many people will mention the IBM Maersk collaboration back then, but that project ultimately failed due to the lack of neutrality in the "private chain". Sovereign countries and multinational giants will never hand over their lifeline to private databases controlled by competitors. The positioning of IOTA is a 'neutral, non-profit, open-source public ledger'. This decentralized background makes it a prerequisite for becoming a 'global digital public infrastructure (DPI)'. It is not about application, it is about developing a universal and immutable 'language' for global logistics and finance. three ️⃣ Landing verification: practical operation from the African continent to the European border On this day in 2026, IOTA has passed the storytelling stage, and its core product TWIN (Global Trade Information Network) has been deeply embedded in the production environment: The ambition of the ADAPT program: In collaboration with the World Economic Forum (WEF) and the Tony Blair Institute, IOTA is building a digital backbone for the African Continental Free Trade Area. By 2035, this system will connect 1.5 billion people. Its goal is to shorten customs clearance time from "two weeks" to "a few hours" and reduce cross-border payment fees by more than half. Actual data on UK EU trade: Between 2024 and 2025, over 2000 batches of goods shipped from Poland to the UK have been tracked through the IOTA main network. Since January 2026, the TWIN system has been fully operational on the main network, which means that every batch of cross-border goods is contributing real asset anchoring data to the main network. four ️⃣ Technology Engine: Rebased Architecture Customized for Enterprise Applications The Rebased upgrade in May 2025 has pushed IOTA into the top global ranks in terms of technical parameters: The security of Move language: It adopts a resource oriented programming architecture, greatly reducing the probability of asset based smart contracts being attacked by hackers. Performance explosion: 50000+TPS and 0.4 second final confirmation ensure real-time processing of large-scale global logistics data. Killer feature - Gas Station: This is the key to blockchain entering the mainstream business world. It allows businesses to pay gas fees on behalf of others, allowing truck drivers, customs officials, and dock workers to use blockchain without feeling anything. They don't need to buy coins or even know the existence of private keys to complete data signing and authentication. five ️⃣ Value Loop: The Path of "Hard Currency" for IOTA Tokens What investors are most concerned about is how these grand landings can be converted into the value of tokens? IOTA's economic model has designed a "deflation logic based on real demand": Requirement lock up: Creating any digital identity, electronic bill of lading, or RWA asset on the chain (such as Salus' key mineral token, Orobo's battery passport) requires locking a certain percentage of IOTA. This means that the more assets on the chain, the fewer tokens circulating in the market. Dynamic Destruction: With the popularity of TWIN network in over 30 countries worldwide, massive trade data exchange will continue to consume and destroy gas fees. Real income: There are $40-50 trillion in accounts receivable worldwide. IOTA directly fills the 2.5 trillion financing gap with DeFi's liquidity by putting these trading assets on the chain. This not only brings Real Yield to DeFi, but also makes IOTA the underlying currency that carries these trillion level assets.