Group 1 - The concept of RWA and its relationship with the digital economy, digital currency, and crypto assets is discussed. The digital economy includes two processes: industrial digitization and data assetization. Industrial digitization refers to the networked digital processing of economic activities, forming an efficient internet economy and sharing economy, suitable for central bank digital currencies and other cryptocurrencies. Data assetization involves using blockchain technology to lock in value creation outputs through tokenization, transforming data into wealth and assets, applicable to RWA [1] - RWA has characteristics such as widespread trading, convenience, traceability, low cost, high efficiency, and decentralization. These features significantly impact the real estate industry by improving issuance and trading efficiency, drastically reducing intermediary costs, lowering investment thresholds, and enhancing the transparency of the underlying assets [1] - The current global RWA asset value has reached $25.4 billion. Deloitte predicts that by 2035, the value of real estate RWA tokens will reach $4 trillion, with a compound annual growth rate of 27%. However, risks include policy and regulatory risks, technological bottlenecks and risks, systemic risks, valuation challenges, and other types of risks [1]

Core Viewpoint - RWA tokens have significant development potential in the real estate investment and financing sector, offering higher liquidity, transparency, trading efficiency, and cost advantages, while legal regulation and risk control remain challenging [1]. Group 1: Purpose of Research - The research focuses on the concept and types of RWA (Real-World Asset), its significance for real estate, and the advantages and risks associated with real estate RWA [2]. Group 2: Characteristics and Significance of RWA - RWA features include widespread transaction accessibility, convenience, traceability, low costs, high efficiency, and serving as the foundation for decentralized finance (DeFi) [3]. - RWA enhances the real estate sector by improving issuance and trading efficiency, significantly reducing intermediary costs, and lowering investment thresholds while increasing asset transparency [3]. Group 3: Development Trends, Risk Prevention, and Case Studies - The global value of RWA assets has reached $25.4 billion, with Deloitte projecting that real estate RWA tokens will reach $4 trillion by 2035, reflecting a compound annual growth rate of 27% [4]. - Notable cases include the first compliant real estate investment trust (REIT) STO issuance in Hong Kong in 2022, the listing of RWA NFT ownership certificates for a Hong Kong office by Greenland (Asia) Securities in June 2025, and a $1 billion U.S. real estate token project initiated by Blocksquare and Vera Capital in Q2 2025 [4].