According to Foresight News, Hong Kong University of Science and Technology Vice President and Hong Kong Web3.0 Association Chief Scientific Advisor Wang Yang, and Hong Kong Polytechnic University PhD student in Financial Technology and Hong Kong Web3.0 Association RWA and Stablecoin Working Group founding member Zhu Haokang have proposed policy recommendations. They suggest that Hong Kong should focus on the deep integration of virtual and real-world assets, fully utilizing blockchain technology and building a strong Hong Kong dollar stablecoin-based Web3 ecosystem. The focus should be on the digitization and tokenization of real-world assets (RWAs), such as bonds, private credit, trade finance, real estate, carbon credit certificates, and precious metals.
To create a favorable regulatory environment for RWAs, Zhu Haokang's earlier proposed 'RWA 2+4' is recommended as a starting point for feasibility studies. This methodology revolves around two types of tokens (security tokens and utility tokens) and four core elements (legal basis, financial framework, technical tools, and data-driven) for research and practice, aiming to find opportunities in challenges and promote the healthy development of RWAs.
To promote the tokenization of RWAs in Hong Kong, it is suggested that a compliant and robust infrastructure needs to be built first, with blockchain technology being the core component. Organizations such as the Hong Kong Web3.0 Association have proposed the establishment of a new public blockchain for RWAs in Hong Kong, with built-in KYC mechanisms. Furthermore, the authors strongly urge Hong Kong to launch a unified stablecoin, guided by global planning, issued by chartered institutions (including government, banks, insurance, funds, and other financial institutions), and accompanied by corresponding profit distribution schemes.