加密货币“去中心化”现实很骨感：资产代币化最大赢家或仍是银行

Group 1 - The core ideal of the cryptocurrency movement was to build financial services on decentralized infrastructure, bypassing banks and intermediaries that charge fees [1] - Tokenization, the process of recording real-world assets on the blockchain, is expected to change the current state of cryptocurrency adoption, with banks and their clients likely to benefit the most [1] - Standard Chartered analysts predict that the market value of all tokenized real-world assets (RWA) will reach $2 trillion by 2028, excluding stablecoins [1] Group 2 - Banks are positioned to capitalize on cost savings from the new system, with institutions like Citigroup and HSBC already offering tokenization services to select corporate clients [2] - Alibaba plans to leverage technology developed by JPMorgan to launch a tokenized global payment network, aiming to accelerate international business transactions [2] Group 3 - Skeptics argue that banks are developing these products to counter the competitive threat posed by stablecoins, as customers may withdraw funds from the banking system [3] - Tokenized stocks traded on platforms like Robinhood may not grant individual investors the same rights as traditional shareholders, leading to regulatory caution in markets like the U.S. [3] - The dream of decentralized finance is being replaced by a more practical reality where cryptocurrency payment systems help banks eliminate friction in existing infrastructures, making traditional lenders important participants in the cryptocurrency landscape [3]