2025下半年，RWA如何连接现实与数字世界？

Core Concept - The concept of Real World Assets (RWA) is transitioning from a niche financial technology term to a broader application, aiming to connect tangible assets with the digital world by 2025 [1][4]. Summary by Sections What is RWA? - RWA aims to digitize ownership and rights of real-world valuable assets (such as real estate, commodities, corporate bonds, equipment, intellectual property, and art) through blockchain technology, creating digital tokens that can be recorded and traded in the digital realm [3][4]. Focus Areas for RWA in Late 2025 - The development of RWA is becoming more practical, focusing on specific asset categories and process optimization, including: - Supply Chain Finance: Tokenizing receivables to provide faster and cheaper financing for suppliers [5]. - Real Estate Fractional Ownership: Allowing high-value properties to be divided into smaller shares, lowering investment barriers and increasing liquidity [6]. - Environmental Assets: Enhancing transparency and efficiency in carbon credit trading [7]. - Compliant Debt Instruments: Exploring tokenized bond issuance that meets regulatory requirements [8]. Regulatory and Technological Maturity - Emphasis on compliance and regulation is crucial for RWA's growth, with projects focusing on aligning with existing legal frameworks to ensure asset rights, transaction processes, and investor protection [8]. - Blockchain technology is maturing, with improvements in performance, security, and interoperability, alongside advancements in identity verification and privacy protection [8]. Market Trends and Value Proposition - The market is shifting towards valuing the underlying quality of assets and their cash flow generation capabilities rather than speculative hype [9]. - Potential benefits of RWA include: - Increased Efficiency: Automating contracts via smart contracts to reduce manual processes and transaction times [11]. - Enhanced Transparency: Immutable records of ownership and transaction history on the blockchain [11]. - Improved Liquidity: Tokenization of traditionally illiquid assets, allowing broader participation in trading [12]. - Expanded Financing Channels: Offering new, flexible financing options for SMEs and asset holders [12]. - Innovative Financial Products: Creating new financial products and service models based on real assets [12]. Future Outlook - The theme for RWA development in late 2025 is "pragmatic connection" and "compliance advancement," moving from abstract concepts to practical applications in specific scenarios [14]. - The path to connecting vast real-world assets to the digital realm is complex and requires collaboration across technology, law, finance, and regulation [14]. - RWA represents an attempt to merge physical and digital value, evolving into a more grounded exploration phase by late 2025 [16].