---
title: "An important book about understanding RWA 📕 (Must-read booklist for RWA)"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/32981862.md"
description: "Key takeaways from reading "RWA and Tokenization - The Transformation of Investment and Financing under Web3.0 Technology" can be summarized into the following core points, covering cognitive upgrades, practical insights, and future trend predictions: 1. Disruptive Cognitive Reconstruction Understanding the financial essence of Web3.0 How the "ownable internet" composed of blockchain + token economy reconstructs trust mechanisms: traditional finance relies on intermediaries (banks/exchanges), while Web3.0 enables peer-to-peer value exchange through smart contracts; after tokenization of physical assets, they can be split and circulated across borders..."
datetime: "2025-08-14T16:38:38.000Z"
locales:
  - [en](https://longbridge.com/en/topics/32981862.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/32981862.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/32981862.md)
author: "[稳定币交易猿](https://longbridge.com/en/profiles/15730207.md)"
generator: "portal-rs"
---

# An important book about understanding RWA 📕 (Must-read booklist for RWA)

Key takeaways from reading "RWA and Tokenization - The Transformation of Investment and Financing under Web3.0 Technology" can be summarized into the following core points, covering cognitive upgrades, practical insights, and future trend predictions:

### **1\. Disruptive Cognitive Reconstruction**

**The Financial Essence of Web3.0**

-   Understanding how blockchain + token economy constitutes the **"Ownable Internet"** to reconstruct trust mechanisms:
    -   Traditional finance relies on intermediaries (banks/exchanges), while Web3.0 enables **peer-to-peer value exchange** through smart contracts;
    -   Tokenized physical assets can be split and circulated cross-border, activating **trillion-dollar "dormant assets"** (e.g., non-standard real estate, carbon rights).

**Core Logic of RWA Tokenization**

-   Breakthrough insight: Tokenization is **not merely digitization** but constructs new production relations through **"blockchain ownership confirmation + smart contract execution"**:
    -   Case: Real-time on-chain data of photovoltaic power station output → automatic division of power generation revenue rights to token holders → solving liquidity challenges in new energy project financing.

### **2\. Four Practical Values**

#### 1\. **Addressing Pain Points in Traditional Finance**

-   **Liquidity Dilemma**:
    -   Long-cycle assets like real estate and private equity → fragmented into tokens → lowering investment thresholds, enabling **24/7 global trading**.
-   **SME Financing Challenges**:
    -   Tokenized supply chain receivables → on-chain verification of trade authenticity → improving bank lending efficiency (case: Ant Chain links data from 15 million SMEs).

#### 2\. **Compliance Pathway Design**

-   Hong Kong’s **"Regulatory Sandbox + Standards First" model** (world’s first RWA registration platform):
    -   Security tokens require KYC/AML → limited to professional investors → balancing innovation and risk;
    -   Cross-border stablecoin payment framework → bridging fiat and DeFi ecosystems (e.g., HKMA pilot).

#### 3\. **Technology-Finance Integration**

| **Technology Tools**     | **Financial Applications**                                                             | **Case**                                                  |
| ------------------------ | -------------------------------------------------------------------------------------- | --------------------------------------------------------- |
| **Oracle**               | Real-time on-chain verification of off-chain asset data (e.g., property price indices) | Chainlink pricing for real estate RWA                     |
| **Cross-Chain Bridge**   | Multi-chain asset interoperability (e.g., Ethereum→Polygon)                            | Hong Kong’s Ensemble project linking CBDC and stablecoins |
| **Zero-Knowledge Proof** | Verifying asset authenticity while protecting trade secrets                            | Supply chain finance privacy data on-chain                |

#### 4\. **Emerging Sector Strategies**

-   **Carbon Credit Tokenization**:
    -   Corporate carbon quotas converted to NFTs → transparent on-chain trading → solving "greenwashing" (e.g., IBM-Veridium collaboration).
-   **Computing Power Assetization**:
    -   Tokenizing AI server ownership → global investors sharing leasing revenue → heavy assets turn "light" (Auride case: 300% financing efficiency boost).

### **3\. Risk Mitigation & Strategic Forecasts**

**Key Risk Solutions**

-   **Regulatory Arbitrage**: Adopt **"function-oriented regulation"** (e.g., China’s token classification by securities attributes);
-   **Technical Vulnerabilities**: Establish **"Technical Standards for On-Chain Physical Assets"** (Hong Kong initiative), requiring multi-signature + third-party audits;
-   **Asset Mismatch**: Prioritize **"strong data-verifiable assets"** (e.g., leased equipment, treasury bonds), avoiding non-standard assets like art.

**Decade-Long Trends**

-   **Short-Term (1-3 Years)**:
    -   Focus on **stable-yield RWAs** (government bonds, energy equipment), typically 3-5% higher returns than traditional fixed-income;
    -   Hong Kong/Singapore accelerate as **RWA cross-border clearing hubs**.
-   **Long-Term (10 Years)**:
    -   Traditional institutions (banks/funds) manage on-chain assets via RWA → forming **TradFi+DeFi hybrid ecosystems**;
    -   Market explosion: **$1.6T (2025)** → **$30.1T (2035)** (Standard Chartered forecast).

### **4\. Core Thesis**

> **"RWA tokenization does not replace traditional finance but creates digital incremental markets."**
> 
> -   **Individuals**: Gain low-barrier access to global premium assets (e.g., $100 stakes in NYC commercial real estate);
> -   **Businesses**: Overcome financing barriers—data as credit;
> -   **Governments**: Hong Kong proves—**proactive regulatory embrace of tech revolution reshapes global financial competitiveness**.

### **Why This Book Matters**

1.  **Trifecta Perspective**:
    -   Wang Yang (academia) on tech principles → Bai Haifeng (investment banking) on financial design → Zhu Haokang (asset management) on execution.
2.  **China-Centric Innovation**:
    -   Diverges from Western DeFi paths, proposing **"non-crypto RWA"** (tokens represent equity sans cryptocurrency), aligning with East Asian regulation.
3.  **Action Blueprint**:
    -   From policy compliance to asset selection, provides a **step-by-step framework** (20+ global case studies).

> This book is a **"Web3.0 Financial Infrastructure Reconstruction Manual,"** offering timeless coordinates for investors, entrepreneurs, and regulators.

-   **Virtual Asset Trading Access**: $GUOTAI JUNAN I(01788.HK), $Futu(FUTU.US), $FOSUN INTL(00656.HK), $CM BANK(03968.HK), $VICTORY SEC(08540.HK), etc.;
-   **Stablecoin Issuers**: Round Dollar Technology affiliates ($ZA ONLINE(06060.HK), $GOFINTECH QUANT(00290.HK), $Z FIN(01168.HK), etc.), $JD-SW(09618.HK), $STANCHART(02888.HK), state-owned enterprise applicants;
-   **Licensed Hong Kong VASPs**: $OSL GROUP(00863.HK), $HKE HOLDINGS(01726.HK), $LIANLIAN(02598.HK), $Futu(FUTU.US), $PUXING ENERGY(00090.HK) (Hashkey shareholder);
-   **Stablecoin Use Cases**: $YEAHKA(09923.HK), $GOLDSTREAM INV(01328.HK), $LIANLIAN(02598.HK);
-   **RWA Players**: $CRYPTO FLOW(08198.HK), $SENSETIME-W(00020.HK), $ETHK LABS INC.(01931.HK), $PHANCY(06682.HK), $LINEKONG(08267.HK), $RF GREEN EN AI(00527.HK), $FOSUN INTL(00656.HK), $GOFINTECH QUANT(00290.HK), $SYNAGISTICS(02562.HK), $YUNFENG FIN(00376.HK), $DL HOLDINGS GP(01709.HK), $EASOU TECH(02550.HK), $VOBILE GROUP(03738.HK), $CMGE(00302.HK), $GCL TECH(03800.HK), $LINKLOGIS-W(09959.HK), $COOLPAD GROUP(02369.HK), $GREENLAND HK(00337.HK), $DMALL(02586.HK);
-   **US Stablecoin Issuers**: $Circle(CRCL.US);
-   **US Trading Platforms & Partners**: $Coinbase(COIN.US), $Robinhood(HOOD.US);
-   **US Traditional Finance in Stablecoins**: $JPMorgan Chase(JPM.US), $Bank of America(BAC.US), $Interactive Brokers(IBKR.US), $Citigroup(C.US);
-   **US Tech & Infrastructure**: $Mega Matrix(MPU.US);
-   **US Payment & Fintech**: $Paypal(PYPL.US), $SoFi Tech(SOFI.US), $Visa(V.US).

### Related Stocks

- [09618.HK](https://longbridge.com/en/quote/09618.HK.md)
- [89618.HK](https://longbridge.com/en/quote/89618.HK.md)
- [HJDD.SG](https://longbridge.com/en/quote/HJDD.SG.md)
- [JD.US](https://longbridge.com/en/quote/JD.US.md)
- [09923.HK](https://longbridge.com/en/quote/09923.HK.md)
- [06682.HK](https://longbridge.com/en/quote/06682.HK.md)
- [01709.HK](https://longbridge.com/en/quote/01709.HK.md)
- [09959.HK](https://longbridge.com/en/quote/09959.HK.md)
- [01788.HK](https://longbridge.com/en/quote/01788.HK.md)
- [00090.HK](https://longbridge.com/en/quote/00090.HK.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**