I can't quite understand a question—why is it said that blockchain will localize to the capital markets of a certain country? Countries naturally prioritize supporting their own capital markets. The real bottleneck actually lies elsewhere: firstly, the rule of law is imperfect, and rule enforcement is weak; secondly, the token ecosystem is chaotic, with few high-quality projects, most of which are scams and bubbles; thirdly, the on-chain infrastructure cannot keep up, with limited scalability and high transaction costs. These are the fundamental issues hindering the healthy development of the
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