Recently, an industry forward-looking report outlined the market directions for 2026, covering six hot tracks: RWA, stablecoins, AI, public chains, prediction markets, and ZK. Some viewpoints are quite unconventional and worth a look—because most people might not have noticed them yet.

**The True Revolution of RWA: From Tokenization to Native On-Chain**

In the past two years, the concept of RWA has been a hot topic, but frankly, it's still just giving traditional assets an on-chain shell. The process hasn't changed; it's just added a blockchain label.

The core idea of the report is: the real breakthrough lies not in tokenization itself, but in enabling debt, contracts, and credit to be born directly on the chain. Instead of completing the full offline process first and then registering it on the chain.

Why is this distinction so important? Because current tokenization models are too "materialized"—simply copying offline logic without truly leveraging blockchain advantages. The next phase of RWA should flip this: designing on-chain processes from the ground up, rather than forcing on-chain processes to adapt to offline models.

**The Ceiling of Stablecoins: Payment Systems Take Priority Over Blockchain**

Many believe that the growth potential of stablecoins depends on how fast the public chains are and how cheap the transaction fees are. But the reality is more complex.

The real bottleneck for stablecoin growth is whether they can connect to real-world payment channels. This means integrating with payment systems at the level of ACH, Visa, PayPal. From this perspective, for stablecoins to truly replace payments, it's not about TPS and costs; it's about ecosystem integration.