<p>作者：张峰</p>
<h2><em>关键点</em></h2>
<p><em>A</em> <em>I</em> <em>全球金融体系通过代币化的重塑是一个不可避免的趋势。它带来的效率革命与风险和挑战并存，推动全球金融治理体系朝着更加协作、智能和包容的方向发展。</em></p>
<p>凭借其超国家的协调地位、成熟的规则制定经验、前沿的研究能力和广泛的国际合作网络，国际清算银行（BIS）已成为这一金融治理改革的核心领导者和关键支持者。在全球金融体系深刻变化的背景下，各国中央银行和监管机构应进一步加强与 BIS 的合作，共同完善 AI 和代币化的全球治理框架。金融机构、非金融企业和投资者应主动融入 BIS 主导的全球金融治理体系，以合规为底线，以创新为动力，以风险防范为核心，共同推动 AI 和代币化技术的健康发展，加强全球金融稳定的防御，构建高效、稳定和韧性的全球金融体系。人工智能（AI）与代币化技术的深度融合正在从根本上重塑全球金融体系的运营模式，推动金融交易、资产定价和资本流动的效率革命。然而，它也带来了跨市场和法域的系统性风险和挑战。传统金融治理框架的地域分割与技术创新的全球性影响形成鲜明对比，显著增加了维护金融稳定的难度。国际清算银行（BIS）作为中央银行之间合作的全球平台，利用其超国家的协调能力、成熟的监管规则制定经验和前沿的金融研究体系，成为应对 AI 和代币化挑战、加强全球金融稳定防御的关键参与者。可以说，在平衡技术创新与风险控制、明确 AI 和代币化对金融体系的多重影响、发挥 BIS 的核心支持作用以及促进各市场主体与 BIS 治理体系的有效连接等方面，已成为全球金融治理体系升级的核心问题。</p>
<p><img src="https://imageproxy.pbkrs.com/https://img.jinse.com.cn/7429308_image3.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://img.jinse.com.cn/7429308_image3.png"/></p>
<h2>I. AI 与代币化重构金融运作的基础逻辑，迎来效率革命的新纪元</h2>
<p><strong>AI</strong> <strong>AI 的智能决策能力与代币化的价值转移优势相辅相成，</strong></p>

<p>这篇文章讨论了通过代币化和人工智能对全球金融系统的转型，强调了与国际结算银行（BIS）加强合作的必要性。文章突出了 BIS 在推动金融治理改革中的作用，以及合规、创新和风险防范对金融机构和投资者的重要性。人工智能和代币化的结合正在重塑金融操作，提高效率，但也带来了系统性风险。文章呼吁采取协作方式，以在这些变化中加强全球金融稳定</p>

<p>Author: Zhang Feng</p>
<div class="lb-trans"><p>作者：张峰</p>
</div><h2><em>Key Points</em></h2>
<div class="lb-trans"><h2><em>关键点</em></h2>
</div><p><em>A</em> <em>I</em> <em>The reshaping of the global financial system by tokenization is an inevitable trend. The efficiency revolution it brings coexists with risks and challenges, driving the global financial governance system towards a more collaborative, intelligent, and inclusive direction.</em></p>
<div class="lb-trans"><p><em>A</em> <em>I</em> <em>全球金融体系通过代币化的重塑是一个不可避免的趋势。它带来的效率革命与风险和挑战并存，推动全球金融治理体系朝着更加协作、智能和包容的方向发展。</em></p>
</div><p>With its supranational coordinating position, mature rule-making experience, cutting-edge research capabilities, and extensive international cooperation network, BIS has become the core leader and key supporter of this financial governance reform. Against the backdrop of profound changes in the global financial system, central banks and regulatory agencies around the world should further strengthen cooperation with the BIS to jointly improve the global governance framework for AI and tokenization. Financial institutions, non-financial enterprises, and investors should proactively integrate into the BIS-led global financial governance system, taking compliance as the bottom line, innovation as the driving force, and risk prevention as the core, to jointly promote the healthy development of AI and tokenization technologies, strengthen the defenses of global financial stability, and build an efficient, stable, and resilient global financial system. The deep integration of artificial intelligence (AI) and tokenization technology is fundamentally reshaping the operating model of the global financial system, driving an efficiency revolution in financial transactions, asset pricing, and capital flows. However, it also brings systemic risks and challenges across markets and jurisdictions. The geographical segmentation of traditional financial governance frameworks and the global reach of technological innovation create a stark contradiction, significantly increasing the difficulty of maintaining financial stability. The Bank for International Settlements (BIS), as a global platform for cooperation among central banks, leverages its supranational coordination capabilities, mature regulatory rule-making experience, and cutting-edge financial research system to become a key player in addressing the challenges of AI and tokenization and strengthening the defenses of global financial stability. It can be said that, in balancing technological innovation and risk control, clarifying the multiple impacts of AI and tokenization on the financial system, leveraging the core supporting role of the BIS, and promoting the effective connection between various market entities and the BIS governance system have become core issues in the upgrading of the global financial governance system.</p>
<div class="lb-trans"><p>凭借其超国家的协调地位、成熟的规则制定经验、前沿的研究能力和广泛的国际合作网络，国际清算银行（BIS）已成为这一金融治理改革的核心领导者和关键支持者。在全球金融体系深刻变化的背景下，各国中央银行和监管机构应进一步加强与 BIS 的合作，共同完善 AI 和代币化的全球治理框架。金融机构、非金融企业和投资者应主动融入 BIS 主导的全球金融治理体系，以合规为底线，以创新为动力，以风险防范为核心，共同推动 AI 和代币化技术的健康发展，加强全球金融稳定的防御，构建高效、稳定和韧性的全球金融体系。人工智能（AI）与代币化技术的深度融合正在从根本上重塑全球金融体系的运营模式，推动金融交易、资产定价和资本流动的效率革命。然而，它也带来了跨市场和法域的系统性风险和挑战。传统金融治理框架的地域分割与技术创新的全球性影响形成鲜明对比，显著增加了维护金融稳定的难度。国际清算银行（BIS）作为中央银行之间合作的全球平台，利用其超国家的协调能力、成熟的监管规则制定经验和前沿的金融研究体系，成为应对 AI 和代币化挑战、加强全球金融稳定防御的关键参与者。可以说，在平衡技术创新与风险控制、明确 AI 和代币化对金融体系的多重影响、发挥 BIS 的核心支持作用以及促进各市场主体与 BIS 治理体系的有效连接等方面，已成为全球金融治理体系升级的核心问题。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://img.jinse.com.cn/7429308_image3.png" alt="" original-src="https://img.jinse.com.cn/7429308_image3.png"/></p>
<h2>I. AI and Tokenization Reconstruct the Underlying Logic of Financial Operations, Ushering in a New Era of Efficiency Revolution</h2>
<div class="lb-trans"><h2>I. AI 与代币化重构金融运作的基础逻辑，迎来效率革命的新纪元</h2>
</div><p><strong>AI</strong> <strong>The intelligent decision-making capabilities of AI complement the value transfer advantages of tokenization,</strong></p>
<div class="lb-trans"><p><strong>AI</strong> <strong>AI 的智能决策能力与代币化的价值转移优势相辅相成，</strong></p>
</div>

拥抱 BIS 治理：数字金融时代市场主体的生存法则