一场新的P2P骗局，正在酝酿？

Core Viewpoint - RWA (Real World Assets) is emerging as a significant narrative in the financial sector, with the potential to transform traditional assets into tokenized forms, leading to a market size of approximately $16 trillion by 2030, which could represent 10% of global GDP [5][6]. Summary by Sections Definition of RWA - RWA refers to tangible and intangible assets in the real world, such as real estate, gold, bonds, and intellectual property [6]. - In the context of blockchain and fintech, RWA represents a financial revolution by tokenizing traditional assets, making them more accessible for investment [7]. Mechanism of RWA - RWA allows traditional assets to be fragmented and sold on blockchain platforms, enabling broader participation in high-value assets [8]. - It provides a financing channel for asset holders and investment opportunities for funders, theoretically achieving a win-win situation [9]. Comparison with P2P Lending - RWA is seen as an evolution of the P2P lending model, replacing internet platforms with blockchain technology to enhance transparency and trust [9]. - Unlike P2P, which relies on borrower credit, RWA uses verifiable real assets as collateral, making the process more reliable and less prone to manipulation [9]. Challenges and Risks - Despite improvements, RWA still faces risks similar to those that led to the collapse of P2P lending, particularly concerning asset verification and the potential for fraudulent projects [12]. - The liquidity and pricing of non-standardized assets linked to RWA can be volatile, posing additional risks to investors [13]. Geopolitical Implications - RWA is not just a financial innovation but also a geopolitical tool, with significant influence from state-level actors and major financial institutions [15]. - The global RWA market is projected to reach approximately $255 billion by mid-2025, with private credit and U.S. Treasury securities dominating the landscape [15]. Financial Sovereignty Concerns - The rise of RWA could challenge national monetary policies and financial sovereignty, as it facilitates capital flows into U.S. dollar-denominated assets, potentially undermining local currencies [17][19]. - Countries are exploring local stablecoins to mitigate risks associated with the dominance of dollar-based stablecoins and RWA [18]. Conclusion - RWA represents a complex interplay of financial technology, geopolitical strategy, and market dynamics, posing both opportunities and risks for individual investors [19].