> it's true that not every enterprise will run its own chain. it depends a lot on the use case they are building > since we are in the CeFi era of Crypto, most financial institutions will indeed run a chain since it's the only way they can launch in a secure, private and compliant way > it's also true that running a chain has become easier/cheaper the past 2 years and the logical progress is that it will be commoditized > the main fallacy in👇argument is that running a chain is "context" and not "core". this is wrong. running a chain itself isn't a differentiator but it enables differentiation in many levels through customizing and owning the experience. the same way that owning a store isn't per se a differentiator VS running a store in a mall but it allows a retailer to do all kinds of customer engagement things that they can't do in a mall