关于「通证化」：一场外滩大会带来的随想

Core Viewpoint - The World Gold Council's proposal to launch a physical gold-backed digital token in London aims to revolutionize the trading, settlement, and collateralization of gold, injecting new vitality into the $930 billion global physical gold trading center, marking a significant experiment in the tokenization of real-world assets (RWA) [3][4]. Group 1: Token Economy Exploration - The year 2025 is anticipated to be a pivotal point for the token economy, with the U.S. government supporting tokenization innovation and regulatory bodies like the SEC and CFTC gradually establishing a leadership stance in this field [4]. - The Hong Kong government has released the "Digital Asset Development Policy Statement 2.0," encouraging RWA development and aiming to create a clearer regulatory framework for tokenized assets, positioning Hong Kong as a digital asset hub [4]. - Current tokenization efforts are primarily focused on financial assets, but the true mission should be to support real industries rather than merely enhancing financial assets [6][11]. Group 2: Regulatory and Compliance Considerations - The exploration of the token economy must define compliance boundaries, as the industry is still in its early stages, particularly regarding the tokenization of physical assets [5][6]. - Regulatory bodies globally maintain a cautious stance towards "crypto assets," emphasizing the need for compliance and the establishment of clear rules to balance innovation with risk management [13][15]. - The importance of a regulatory framework that encourages the tokenization of real assets while ensuring financial stability and investor protection is highlighted [17][18]. Group 3: Future Outlook and Technological Advancements - The introduction of "Agentic Contracts" by Ant Group, which incorporates AI to enhance smart contracts, represents a significant technological advancement that could facilitate efficient and compliant handling of tokenized assets [7][8]. - The global RWA market has seen rapid growth, increasing from $500 million in 2022 to $25.5 billion by mid-2025, indicating a strong demand for tokenized assets [11]. - The transformation of the global digital asset market is expected to create new applications for the internationalization of the Renminbi and contribute to a diversified global monetary and financial system [16].