I've been so busy in the countryside these past couple of days that I'm feeling dizzy. I looked at some news related to RWA and I still feel like something is missing. Data shows that by the first half of 2025, the RWA market valuation has already surpassed 23 billion USD, and many leading institutions are busy moving assets on-chain!

But on-chain transactions always feel like "mime communication"—only addresses and amounts, without seeing the contract background, payment purposes, let alone some identity information that needs to be protected.

Then I happened to see the "Encrypted Messaging Onchain" launched by @mindnetwork_xyz in August that I had previously tracked.

It just dawned on me: what blockchain lacks is not processing power, but the "ability to effectively transmit information". And this protocol might just add a "secure information channel" to the blockchain. Today, I would like to continue sharing this with everyone.

First, let's talk about why the blockchain can "speak"?

In traditional finance, a cross-border money transfer is not just about sending the money over; it comes with a long string of "explanations" through various systems:

Who paid the money, the bank of the payee, whether the money is for purchasing equipment or for an advance payment, what is the associated contract number... These "ancillary information" are the basis for compliance checks and account reconciliation.

But the current blockchain, especially some common chains, cannot achieve this. The transaction data is all public, and who would dare to put sensitive information on it?

Want to add extra explanation? It does not support encryption itself, putting it up is like being exposed without clothing. The result is that after the house is on-chain, privacy documents like the property certificate and mortgage contract cannot be stored with it; if you want to state the purpose of cross-border money transfers? Either publicly leak information or only transmit it offline, which negates the meaning of transparency on-chain.

The on-chain encrypted messaging protocol from @mindnetwork_xyz is designed to solve this problem.

In simple terms, it can encrypt these "whispers" and package them, either storing them in an NFT on-chain or binding them with a transaction, and only authorized individuals can decrypt and view them.

Moreover, it uses hard-core technologies such as FHE (Fully Homomorphic Encryption) and ZKP (Zero-Knowledge Proof), which can process data in an encrypted state, taking both compliance and privacy into account.

This thing can be used in many places. Let me mention a few practical ones:

For example, when a house is put on-chain, private documents like the property certificate and contract can be encrypted and bound together with the property token. When the buyer makes the payment, it can be verified on-chain that these documents are genuine, but others cannot see the content, ensuring that it cannot be altered and that privacy is maintained.

Cross-border business is also suitable; customs documents, invoices, etc., can be encrypted and put on-chain. Sellers, buyers, customs, and banks each have their own keys to view only the parts they need. The entire process can be traced, and there is no fear of information leakage.

There are also more complex financial product settlements, such as interest rates and exercise conditions, which can be encrypted and included in the transaction. Under the encrypted state of the smart contract, the money can be calculated clearly, satisfying privacy requirements while also enabling automatic execution.

In simple terms, it means allowing the blockchain to "clarify things" like proper communication, not just transferring numbers.

Of course, just talking about technology is not enough; the key is whether it can actually be put to use.

@mindnetwork_xyz what makes me feel most reliable is its actions in the Web2 field, not just a project playing in the crypto circle.

It first signed a cooperation intention with BytePlus, a subsidiary of ByteDance, becoming the first Web3 company to enter the Byte ecosystem.

Feishu by Byte has 40 million users, COZE is an AI assistant platform, and the technology from Mind Network has now been integrated into COZE.

When ordinary users use COZE's AI assistant, all input data is encrypted throughout the process, and the platform cannot see the original content, but it can still ensure that the results have not been altered (behind this is their MCP protocol, specifically designed to verify the authenticity of AI outputs).

Earlier, it also collaborated with Alibaba Cloud, being the first integrated FHE project of DeepSeek, which can be found on DeepSeek's GitHub. The encryption service of Mind Network is used to protect the AI inference process, and it is now actually implemented in the production environment.

The willingness of these Web2 giants to cooperate with it indicates two points:

First, the FHE technology can indeed solve their problems (such as the privacy issues of AI data);

Secondly, the capabilities demonstrated by @mindnetwork_xyz are reliable; they are not just empty promises. After all, being able to serve 40 million users of Feishu and Alibaba Cloud's commercial scenarios, the stability and compatibility of the technology must be up to standard.

In addition to this new protocol, they also have quite a few impressive things to offer:

In fact, the on-chain encrypted messaging protocol is just a part of the entire ecosystem of @mindnetwork_xyz. Their core technology is FHE, and they have developed several products around it:

There is a network called Agentic World, which is an AI agent network with 60,000 AI assistants, coordinating tasks using the $FHE token.

The communication and data processing between these AI assistants are encrypted, so there is no need to worry about user information leakage. They can also verify each other's "identities" to prevent impersonation.

There is also an FHE Bridge, which is a cross-chain tool based on FHE, supporting those hidden addresses (the kind of concept that Vitalik mentioned). When transferring, the receiving address is encrypted, which can protect privacy. Recently, it was also said that it will integrate with Circle's CCTP, so in the future, USDC cross-chain transfers can also use this technology, making institutional transfers more secure.

Additionally, there is MindX, which is an encrypted AI chat tool that uses the DeepSeek model (after all, the two companies have a deep collaboration). The content you chat with the AI is fully encrypted and stored in a decentralized manner, so the platform cannot see it, making it suitable for handling sensitive information.

These products have a common characteristic: they have truly implemented FHE technology, not just talked about it on paper.

The potential of the project is definitely there. The FHE technology has been mentioned by Vitalik several times, and the industry believes it is the next generation of privacy technology, with more flexible application scenarios than ZK.

@mindnetwork_xyz is the first project to apply FHE on the mainnet, supported by collaborations with Web2 companies like Byte and Alibaba Cloud. Its current valuation is not high (having raised 12.5 million in two rounds, with a valuation of about 100 million USD, and the investors' shares have not yet been unlocked). If it can be listed on Binance spot in the future (after all, it is currently on Binance Alpha, with a fee of 0.01%, I tried a 1000U transaction and the loss was about 1U), the potential for growth is definitely worth watching.

Risks also need to be mentioned: the FHE technology is still in development, and practical use cases need to be gradually cultivated. Moreover, there are still many hurdles to overcome in the collaboration with Web2 giants, from signing agreements to large-scale implementation. But then again, which new technology hasn't gone through a step-by-step process like this?

In summary, the on-chain encryption messaging protocol from @mindnetwork_xyz is essentially addressing a shortcoming of blockchain - allowing it to securely "discuss some complex matters."

This is indeed quite necessary for areas like property on-chain and cross-border money transfers, which require compliance while ensuring privacy.

More importantly, it is not just revolving within the Web3 circle, but also actively interfacing with Web2 platforms like Byte and Alibaba Cloud, which is the way for technology to be truly utilized.

After all, what truly holds value is not just issuing a token to speculate on, but rather being able to solve real-world problems.

If you're interested, you can check out their Twitter @mindnetwork_xyz, or try the applications on COZE: how to use the AI assistant, and the $FHE thing is worth paying more attention to.
#FHE # MindNetwork #RWA # Web3