Group 1 - The World Gold Council has proposed a plan to launch a physical gold-backed digital token in London, aiming to transform the trading, settlement, and collateralization of gold, injecting new vitality into the $930 billion global physical gold trading center [2][3] - The exploration of tokenized assets is seen as the largest experiment in Real-world Assets (RWA) tokenization to date, sparking discussions on the collision between tradition and innovation [2][3] - The Hong Kong government has released a policy statement encouraging RWA development, aiming to establish Hong Kong as a digital asset hub, with several licensed institutions already exploring tokenized products [3][12] Group 2 - The global RWA market has seen significant growth, increasing from $5 million in 2022 to $25.5 billion by July 2025, indicating a fivefold increase in three years [8] - The current focus of tokenization remains on financial assets, but the true mission should be to support real industries rather than merely enhancing financial assets [4][5] - Regulatory frameworks are being established globally to ensure compliance and safety in the tokenization of assets, with various regions adopting different approaches to manage risks associated with digital assets [11][12] Group 3 - The development of tokenized assets is driven by the continuous pursuit of transaction efficiency, which is essential for economic growth [7][8] - The introduction of AI-driven smart contracts, termed "Agentic Contracts," represents a technological evolution that could enhance the efficiency and compliance of tokenized asset management [5][6] - The long-term vision for the token economy emphasizes the need for a balance between innovation and risk management, ensuring that the industry can sustain growth while maintaining stability [14][15]

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].

Group 1: Conference Overview - The 2025 Inclusion·Bund Conference opened in Shanghai with the theme "Reshaping Innovative Growth," featuring 550 guests from 16 countries and regions, including notable figures like Richard Sutton and Yuval Noah Harari [1] - The conference focused on five main topics: "Financial Technology," "Artificial Intelligence and Industry," "Innovation and Investment Ecology," "Global Dialogue and Cooperation," and "Responsible Innovation and Inclusive Future," comprising one main forum and 44 insight forums [1] - The event is recognized as one of Asia's three major financial technology conferences, attracting global attention for its openness, diversity, and forward-looking nature [1] Group 2: Insights from Richard Sutton - Richard Sutton, the 2024 Turing Award winner, emphasized that artificial intelligence is entering an "experience era," where the potential for AI exceeds previous capabilities [2] - He noted that current machine learning methods are reaching the limits of human data, and there is a need for new data sources generated through direct interaction between intelligent agents and the world [2] - Sutton defined "experience" as the interaction of observation, action, and reward, which is essential for learning and intelligence [2][3] Group 3: Insights from Wang Xingxing - Wang Xingxing, CEO of Yushutech, expressed regret for not pursuing AI earlier, highlighting the rapid development of large models that now allow for the integration of AI with robotics [4] - He discussed the emergence of a new embodied intelligence industry, where robots can possess AGI capabilities, enabling them to perceive, plan, and act autonomously [4] - Wang is optimistic about the future of innovation and entrepreneurship, stating that the barriers to entry have significantly lowered, creating a favorable environment for young innovators [4] Group 4: Ant Group's Technological Advancements - Ant Group is recognized as a leading technology financial company, with significant investments in AI and various sectors [5][6] - The conference showcased Ant Group's new AI assistant "Xiao Zheng," which integrates multiple large models to streamline government services [6] - Ant Group's CTO announced the launch of the "Agentic Contract," which will be natively deployed on their new Layer2 blockchain, Jovay [6]