Blockchain Advisor Raises Concerns Over RWA Tokenization in Crypto

Blockchain advisor Anndy Lian has sparked debate within the crypto community by questioning the true value of real-world asset (RWA) tokenization. In a recent thread, Lian presented an 11-point case against RWAs, highlighting their reliance on traditional finance and custody systems.

RWAs, which include tokenized assets such as gold, Treasuries, and real estate, are often touted as a major driver of crypto adoption. However, Lian argues that most RWA protocols settle in fiat currencies, use courts for enforcement, and store assets off-chain. If the blockchain layer adds no unique value, he asks, why does it exist?

Moreover, Lian questions whether any capital flowing into RWAs is truly crypto-native or merely 'fiat wrapped, legally ring-fenced, and redeemable off-chain'. He also emphasizes the importance of permissionless composability, censorship-resistant settlement, and native digital scarcity for true adoption.