This is the first time returning to a familiar market in North America after 5 years since the last visit before the pandemic.

But this market is fundamentally different from that of 2019.

Those financial institutions that once stumbled in the field of innovation.
Now dance directly in the venue.
High levels of innovation, such as Franklin Templeton and BlackRock, are directly shaking up the industry.

At that time, ILS was just emerging as a derivative product of securitized products such as ABS.
Confidently suggested to the boss at the time that we should embrace change and update the product.
The boss immediately said to me
"Anything that you do is innovative in finance is freaking illegal"
But now the market happens to have solved the issue of legality.
So these traditional financial systems are like wild horses running uncontrollably.

The widespread application of AI has already exceeded my imagination.
It turns out that the modeling and the non-standard datasets we painstakingly worked on day and night in the Mathematics/Statistics department.
Just a few keystrokes and it's done.
Moreover, the academic community is now fully embracing AI and web3.

And tell me that many graduate students are working on AI assetization.
Sell and monetize by writing AI AGENT
Moreover, you can also earn rewards in the early interactions.
It turns out that the venture capital community has always looked down on the academic world, thinking that professors are slow and rigid.
But the mass adoption of AI and crypto in recent years has indeed exceeded my expectations.

The policy advantages and financial advantages of the United States are indeed ahead of the Asian market.
In addition, the GENIUS Act addresses the legal issues surrounding stablecoins and RWAs.
AI + RWA is indeed the dual engine for future development.
(We will discuss the RWA market in detail another day.)