RWA (Real World Assets) and Web3: A New Bottle of Old Wine?
Driven by the tide of technological innovation, RWA (Real World Assets) and Web3 have become hot topics in the financial industry. Traditional financial institutions – once regarded as conservative and stable giants – are now actively embracing these emerging concepts, vigorously promoting the development of RWA and DeFi (Decentralized Finance). However, behind this technology-driven transformation lies a core question worth pondering: Are these dazzling new concepts truly disruptive innovation, or simply giving traditional financial businesses a “new look”?
Digital Currency Fundamentals
We use an easy-to-understand analogy to explain the relationship between digital currency “mining” and “accounting,” as well as why Bitcoin and Ethereum have different supply caps.
What is a Stablecoin?
Stablecoins have already gained legal status in the United States and Hong Kong. This allows for more efficient capital flows globally, and gray areas are bound to exist if not regulated – similar to how the US manages opioid addiction.
Stablecoins are crypto assets pegged to fiat currencies (such as the US dollar or Hong Kong dollar) or precious metals, designed to maintain their value stability. They are primarily divided into three categories: fiat-backed (such as USDT, USDC), commodity-backed (like stablecoins backed by gold reserves), and algorithmic (which do not rely on physical reserves but instead use algorithms to maintain their peg)([zh.