On this week’s series Web3 events In Hong Kong, industrial leaders emphasize the Real World Asset (RWA) tokenization As a crucial evolution in Blockchain’s trip to regular adoption.
“This is the perfect moment for our entire industry,” said Shukyee Ma, Chief Strategy Officer of Plume, during an exclusive interview. ‘After last year’s disappointment with Defi Proceeds, users are looking for something new and we have the tokenized assets ready. “
Read more: Real World Asset’s impact (RWA) tokenization
Specially built block chains that are at the forefront
An important trend that comes from the discussions is the development of specially built block chains that are specially designed for RWAS, instead of using existing general chains.
“All those public chains were not built for RWA protocols,” explains Ma. “That is why we build this RWA chain and put the composity of Defi on top to make it easier for crypto users to assume.”
“In the next 10 years we will see many existing fungible assets at the chain treasuries, sovereign tires, shares,” predicted Jayant Ramanand, co-founder of Mantra. “While these assets are on chain, you have a fungi, movable value that can be transferred directly throughout the world.”
Regular challenges and opportunities
Industry professionals identified regulatory certainty as essential for widespread acceptance.
“To further unlock the potential of this technology and to encourage traditional financing to accept it, we have issued circulars to provide guidance,” says Elizabeth Wong, director of Fintech at Hong Kong’s Securities and Futures Commission. “We have maintained it as agnostic for the technology used, because every blockchain has its benefits and limitations.”
Vivian Mei, a lawyer who specializes in RWA -Compliance, noted that global regulatory frameworks are increasingly being aligned: “The general regulations landscape is going to a high convergence in terms of virtual activa definitions, KYC requirements and networking standards.”
George Chou, Chief Fintech Officer Hong Kong Monetary Authority, emphasized their project ensemble initiative: “We want to investigate an innovative market infrastructure with the industry to facilitate the settlement with the help of tokenized money and to identify impactful domestic and cross-border use cases with leading experts and pioneers in the industry.”
Bridging traditional finances with crypto
“It is not just brought offline assets to the chain. It offers a structural change in how the real world and virtual world connect,” said JJ van de Pac, whose platform recently tokenized a quantitative fund with around $ 100 million in assets.
While financial assets will lead the early acceptance, Rachel Keum, CEO of Vaultx, offers another approach with its platform that Token is token with the help of NFC technology: “Our mission is to revolutionize RWA-appropriate by makers and collectors of digital-illiterate in Empoweren” She explained that Vaultx had already launched partnerships with galleries in Asia and Europe, creating a decentralized market for artists to receive continuous royalties from secondary sale.
Consumer -oriented applications are also on the rise. “The real distribution is never for institutional investors – it is for people,” said Eudemoniacc of Morph, whose black card quickly became popular. “We try to place payment and consumption in the center, so that people can spend their crypto assets in the real world and at the same time bring a new audience into the ecosystem.”
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