Is the Swift system belonging to the blockchain world coming? @mindnetwork has launched an on-chain encrypted messaging protocol based on FHE technology, attempting to build an infrastructure similar to traditional interbank messaging systems for traditional financial assets on-chain. What’s going on specifically? 1) Mind Network is a vertical technology provider of FHE (Fully Homomorphic Encryption). Since this technology mainly addresses privacy and encryption-related issues, it can flexibly provide value in ZK, DePIN, AI, and the currently hot RWA track. In the ZK tech stack, FHE can serve as an important supplement to zero-knowledge proofs, providing privacy protection from different dimensions. In the DePIN network, FHE can protect sensitive data of distributed devices while allowing the network to perform necessary collaborative computations. In the AI Agent field, FHE enables AI to train and infer without disclosing user privacy data, which is crucial for AI applications in sensitive areas like finance and healthcare. In the RWA direction, FHE can address compliance pain points when traditional financial assets are put on-chain. How to understand this? Blockchain inherently lacks a "semantic layer"; transaction records with only addresses and amounts cannot meet the financial business's needs for transaction purposes, contract backgrounds, identity verification, and other information. Mind Network's on-chain encrypted messaging protocol can provide each blockchain transaction with an "encrypted remarks field," securely transmitting sensitive information such as property certificates, letters of credit, and voice authorizations, thus protecting privacy while meeting regulatory audit requirements. 2) From a technical perspective, this solution can upgrade Web3 wallets from mere transfer tools to encrypted communication identities. Traditional on-chain solutions either rely on centralized institutions to handle compliance information or make information completely public and transparent, neither of which is ideal. With the privacy compliance solution empowered by FHE, the specific application scenarios are very intuitive: for example, in cross-border payments with stablecoins, transaction purposes and KYC information can be encrypted and transmitted simultaneously with the transfer, allowing regulatory agencies to verify compliance without obtaining plaintext; or in real estate tokenization transactions, sensitive documents such as appraisal reports and sales contracts can be encrypted and bound to on-chain transactions, achieving asset circulation while protecting commercial privacy. Mind Network's FHE Bridge has accumulated 650,000 active addresses and 3.2 million encrypted transactions, proving the feasibility of the technical solution. Of course, this data only targets and verifies a sufficiently rigid market demand; as for the market prospects and space, it may still be difficult to see clearly. 3) Many pure native blockchain builders have been anxious about the direction and track of building. Whether to vitalik or to vc, or just simply Fomo hotspot narratives, I think we need to give way to Wall Street in the future, utilizing the U.S. government's crypto-friendly regulations to provide the necessary foundational infrastructure and pure tool services for Wall Street's entry into the crypto field, all good. As traditional financial giants like BlackRock and JPMorgan are actively laying out asset tokenization, what they care about most is not whether blockchain can transfer funds, but whether it can meet KYC, AML, and other regulatory standards. This is precisely the real reason why Mind Network aims to preemptively layout in the RWA track. Assuming the RWA market is expected to reach a scale of $30 trillion by 2034, what will the demand for compliance infrastructure be at that scale? Of course, everyone can have expectations about sharing the RWA blue ocean market cake. But actually, the more critical point is to find the right ecological positioning, just like in the cloud computing era, AWS provides computing, and Cloudflare provides CDN, blockchain infrastructure is also moving towards vertical segmentation, and some vertical hardcore technology service directions must find their own specialized division of labor. Clearly, Mind Network focuses on the FHE tech stack, providing "encryption as a service" capabilities for different tracks. Therefore, it is not surprising to see its presence in the ZK, AI, and RWA tracks. Of course, the value of technology providers ultimately depends on the degree of explosion of downstream applications. Whether it’s the $30 trillion expectation for RWA or the autonomous process of AI Agents, time will still be needed for verification.