"RWA Without Stablecoins is Just a Scam" # RWA Becomes a Plaything The term RWA has recently been ubiquitous. From international financial forums to industry startup groups, everyone is discussing "asset tokenization" and "real-world mapping", as if not mentioning RWA means falling behind the industry trend. But during such high-profile moments, we need to calmly understand: What problems can RWA actually solve, and what basic conditions are needed for its implementation? Many people say RWA is about "reshaping" real-world assets on-chain. While many RWA projects claim "asset tokenization", they often just transfer existing data from Excel, ERP, or custodian systems onto the blockchain. However, the entire process remains unchanged: asset generation, value confirmation, revenue calculation, and investment distribution are still handled offline by project teams. # Two Standards for Judging RWA's Authenticity The true value of RWA lies not just in "confirmation" but in its ability to complete credible settlement - whether the on-chain fund flow mechanism can actually operate. RWA's value has two progressive layers: credible data and credible settlement. The first layer involves recording real-world asset state changes on-chain. This requires external interfaces like sensors, custodians, and oracles to push information automatically and objectively. The second layer - credible settlement - is RWA's genuine value. This means automatic, unalterable, and transparent execution of profit distribution, principal return, default handling, and fee transfer. To achieve this, the chain must have a monetary unit, which means stablecoin participation. We say there are two fundamental standards for measuring a genuine RWA project: First, can your data flow be automatically uploaded without human intervention? Second, can your fund flow be settled on-chain? # RWA Without Stablecoins is Just a Scam What we want is a truly operational structure: native on-chain, automatically running, and instantly redeemable. Data must be source-credible, and funds must be settled on-chain. Stablecoins' greatest significance is that they make money programmable for the first time. You can define when, to whom, and how much to pay, even triggering payments based on specific on-chain events. With stablecoin-applied RWA, an asset's entire lifecycle - from generation to profit distribution to exit - can run via smart contracts. Otherwise, no matter how many institutions participate or audits endorse it, it's just another centralized platform. That's why we say: RWA without stablecoin application is just a scam.