The macro impact outlined in Chapter 5 raises an inevitable question: if the benefits of decentralized real estate infrastructure are so compelling, why hasn't transformation occurred already? The answer lies in understanding that all players in the real estate ecosystem are trapped in a game theory structure that enforces a fragile collusive equilibrium. Industry cost structures have always expanded to meet revenue, preventing cost reductions or lean operations. Incumbent leadership lacks both the mindset and skillset to drive disruptive innovation, while the real customer---the borrower, buyer, and seller---remains systematically underserved.

Elephant Protocol emerges from this structural analysis unconstrained by legacy economics, game theory traps, or institutional mindsets. Designed from first principles to minimize cost for end users, the protocol creates sustainable competitive advantages that incumbent players cannot replicate without destroying their existing business models. This chapter examines why traditional market forces have failed to produce efficiency gains and how decentralized infrastructure breaks through barriers that have protected extraction for decades.