Good read on this one — the difference between "unmonitored speculation" and "enterprise transaction engine" is the real story here, and it's one most retail commentary is missing completely. The $88 trillion RWA projection gets thrown around like it automatically means altcoin bull case, but if the actual architecture is permissioned DLT with compliance wrappers modeled on BUIDL, that’s a fundamentally different value flow than open blockchain adoption.

The point to sit with is the movement of economic rent to the balance sheets of commercial banks and not to decentralized protocols. If this template is the one that other G7 nations follow, it turns the question of who actually benefits from tokenization on its head. And it may not be the permissionless ecosystem retail investors think it is. 🏦⛓️