My personal feeling is that in the past, due to insufficient infrastructure (such as the single digit TPS of the Ethereum mainnet), it was unable to support large-scale real-world applications (such as Visa). Therefore, when it comes to the narrative of Infra, both VC and Volkswagen are Buyin, and compared to applications, public chains only need to use heap data, which is much easier to measure. So in the past few cycles, we have seen repeated efforts to build wheels, with projects featuring "Ethereum Killer" as a gimmick constantly appearing, until now. Why not apply it? Why do we have to endure that hardship when it's tiring and difficult to tell stories? But from quark chains to Eos to Polkadot to L2 to Zks ghost chains to xx chains, everyone is really exhausted. VC groups, studios working on data, paying Cex protection fees, and then smashing the next one, this kind of money making trick with almost zero impact on the real world is really boring to everyone. It is now time to push the industry towards "super applications". Apart from other things, the number of people worldwide who are familiar with encryption has greatly increased, and the restrictions on encryption in the US banking industry are also being lifted, objectively improving the survival environment of super applications. The industry also urgently needs Web3 super applications that can affect daily life to justify Crypto, which is not just about making money and meme gambling. I believe that the industry is not short of money, but knowledgeable people who care about the development of the industry should see this. I personally think Payfi may be a more practical entry point. Visa/Master has been collaborating with encryption attempts for quite some time now@ CZ_Sinance has also mentioned payfi these days, let's first see if there can be a breakthrough in this area.