⚓️ Ethra Ship Notes|Vol.008 Today we’ll share one. Sometimes I feel that when we discuss RWA, we often start with finance. But in the real world, it’s actually the other way around. Trade comes first, then finance. Goods need to be transported; businesses need funding. Banks appear; capital markets take shape. Finance has never been the starting point—the real starting point is the industries that continuously create value.

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