JPMorgan's newly appointed head of the blockchain division Kinexys, Oliver Harris, stated that asset tokenization itself cannot solve liquidity issues, "Tokenization does not equal liquidity," simply putting assets on the chain does not automatically enhance their tradability; he believes the key to the industry lies in building a unified on-chain settlement layer that integrates funds, assets, and data onto the same platform, thereby reconstructing traditional financial infrastructure. Harris also pointed out that as technology and regulation gradually mature, large banks' investments in blockchain infrastructure are beginning to drive changes in market structure. (CoinDesk)