外滩大会报告：通证经济正从虚拟世界“小众试验场” 走向服务实体经济的广阔天地

Core Insights - The report titled "Real World Token Economy 2025" indicates that the token economy is transitioning from a niche experiment in the virtual world to a broader application in the real economy, emphasizing a return to value fundamentals [1] - The focus is on building a real-world token economy ecosystem, where tokens serve as new value carriers to achieve more efficient value circulation and collaboration [1] - The report highlights that the tokenization of real-world assets (RWA) and tokenized payment settlements are crucial pillars for the ecosystem's development [1] Summary by Sections Tokenization of Real-World Assets - The report emphasizes that the premise for "everything can be tokenized" includes three conditions: verifiable status, programmable ownership, and quantifiable value [1] - RWA has become the second fastest-growing category in the crypto market, yet most of it is still dominated by private credit and U.S. Treasury bonds, with limited real-world asset case studies [1] - The true value of tokenization lies in serving the financing needs of the real economy, shifting from investment-driven to financing-driven demand [1] Tokenization Practices and Payment Settlements - Ant Group's practices in the tokenization of new energy assets provide a reference path for the industry, injecting new vitality into low-liquidity assets like real estate and industrial equipment [3] - The tokenized payment settlement network is described as the "blood circulation system" of the token economy, efficiently supporting value circulation [3] - Future developments in central bank digital currencies and commercial bank tokenization are expected to reshape cross-institutional and cross-border settlement systems [3] Trust Mechanisms and Collaborative Development - A secure and trustworthy environment is viewed as the core guarantee for the token economy, with a global regulatory framework providing legal trust and institutional foundations [3] - Institutions are encouraged to build a trustworthy environment from three aspects: asset authenticity, compliance identity, and transaction security [3] - The report calls for collaboration among various parties: regulatory bodies to provide clear legal frameworks, tech companies to drive industry standards and innovations, and financial institutions to connect the token economy with traditional finance [3]