At the 2024 Hong Kong SmartCon conference held by Chainlink, Xiao Feng, Chairman and CEO of HashKey Group, delivered a speech on the theme of "On-chain and On-chain", predicting that in 2025 (the blockchain industry) will achieve interconnection through five major channels, namely stablecoins (estimated transaction volume of 6 trillion US dollars), ETFs (off-chain securitization of crypto assets), RWA (on-chain tokenization of traditional assets), STO (on-chain Web3 business tokenization), and licensed institutions (on-chain deposit, loan and exchange transactions).
"On-chain" is mainly achieved through three methods: Web2 (data on-chain), DePIN (equipment on-chain), and DeFi (asset on-chain). The ultimate goal of on-chain is tokenization.
DLT has two layers of value, namely tools (business model unchanged, improving marginal effects) and mechanisms (innovative business models, creating new assets).