After careful examination, @ boundless_xyz's article did indeed expose the "transparency tax" issue that Stablecoin faces in institutional adoption: permanent and publicly available financial records may expose the company's supplier relationships, compensation structure, cash flow, and other financial privacy. After all, on chain detectives such as @ arkham and @ nansen'ai already have a mature anti anonymity industry. Although no business giant would be foolish enough to broadcast their cost structure, supplier relationships, and cash flow to competitors in real-time 24/7. But there is an industry paradox here, how to meet the strict regulations of AML and Travel Rules while maintaining the commercial bottom of institutions? Actually, it's easy to solve. Just install a powerful "skills" to address "privacy compliance". This is equivalent to finding a huge application landing scenario for ZK's zero knowledge proof in the stablecoin track. How terrifying is this market space? By 2025 alone, the settlement volume of stablecoins has skyrocketed to $33 trillion. Of course, when institutions bring their old money to the blockchain, it is not a slow and gradual climb, but a sudden leap based on the mature conditions of on chain technology. Once Boundless's ZK based "selective disclosure" solution is scaled up, it will solve the privacy concerns of institutional on chain transfers and further enhance the entry speed of TradFi funds. Finally, one more thing to say is that even though pure ZK L2 and privacy public chains that use hammers to find nails may become ghost cities in the absence of real scenarios, the value and significance of ZK technology itself remain significant in the adoption process of the Crypto infrastructure.