Crypto is building a brand new capital markets economy its competing with the capital markets economies of the USA, the UK, the UAE, Hong Kong, etc. the issue is that onchain capital markets is NOT better than any of these other markets (yet) bc it has less capital, less valuable assets and less primitives it also has a worse global reputation and minimal rights, rules and standards that's why its still better to IPO in the USA than it is to launch a token onchain that said, onchain capital markets has a lot going for it it's global and 24/7 it's transparent it's programmable and composable settlement is trustless and atomic its digitally native and offers digital custody There are many reasons as to why onchain capital market COULD be better than other capital markets But there is still alot of work to do to get it there I think the crypto industry needs to realize this, as we can't just build random things and think everyone will just use them - that's not how free markets work ...