The Web3 ecosystem is witnessing a fundamental shift in how privacy gets understood and valued. What used to be framed purely as anonymity has transformed into something institutions now recognize as control—a crucial distinction that changes everything.

Here's what separates winning players from the rest: assets can migrate effortlessly across multiple blockchains, but proprietary information and business logic remain locked down. This mismatch creates a natural competitive advantage.

That asymmetry between liquidity and security? It's become the real moat. As chain interoperability advances and capital becomes increasingly mobile, the ability to protect trade secrets while maintaining operational flexibility becomes the defining factor. Early players who grasped this dynamic built their infrastructure around it.