According to Miles Deutscher, asset tokenization can only occur on private blockchains because institutions prioritize privacy, security, and compliance over decentralization, positioning privacy as a structural industry shift rather than a short-term fad, source: X/@milesdeutscher. For trading, this viewpoint highlights potential narrative momentum in private or permissioned-chain infrastructure, enterprise privacy tooling, and compliance/KYC solutions within the RWA sector, source: X/@milesdeutscher.