The head of YZi Labs believes that cryptocurrency is an independent innovation and the biggest misjudgment in the past Odaily Planet Daily News: Ella Zhang, the head of YZi Labs, stated during a live stream on Binance Online that in the early days, Binance Labs only focused on investing in the blockchain and cryptocurrency fields, but later realized that major innovations and industrial changes are not limited to a single track. He believed that if he had a longer-term vision at that time, he might have invested in more AI companies. Ella Zhang stated that this year's focus is on intention driven decision-making mechanisms based on AI agents, including permissionless and trustworthy payment systems, user trust mechanisms for AI agents, and ensuring that personal data is only used for model training through technologies such as zero knowledge proofs. In terms of RWA, it pointed out that the infrastructure for the custody and on chain trust of high-quality stocks, equity, and real estate property rights still needs to be improved, and liquidity issues are also one of the core challenges. Ella Zhang also stated that in the future, Web3 projects may not necessarily require the issuance of tokens and may also be financed through equity tokenization. It believes that in the future, more and more blockchain and cryptocurrency companies will choose to list on traditional stock markets rather than necessarily issuing tokens.