Many people severely underestimate the difficulty of RWA, ultimately because they haven't been exposed to the underlying architecture of traditional finance.

RWA projects sound a bit "anti-Web3." They don't prioritize speed or hype; instead, they focus on compliance, clearing, risk control, and permissions—things that seem very "traditional." These points may go unnoticed by retail investors, but for institutional investors, they are precisely the dividing line between whether they can or dare to use it.

To put it simply, retail investors care about novelty and return expectations, while institutions care about legal frameworks and risk controllability. Those who truly implement RWA are often not about flashy features but about mastering these "boring" compliance details. This is the real threshold for institutional-level entry.