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Decoding RWA: Can the new trend of Dubai WEB3 be used as a reference for Hong Kong's encryption narrative?
Yesterday (June 26), Li Jun, founder of MetaTdex, Ali Nauman, CEO of BG Trade, Xu Weizhuo, founder of MetaDAO, etc., including some Chinese deeply participated in the "Dubai WEB3 New Trends" theme forum held in Dubai Silicon Valley Digital Industry Park, mainly to explore The practice and possibility of RWA (Real World Assets). This allows us to suspend the topic selection operation of "Decoding RWA: The Most Valuable Wealth Password in the Context of Compliance", and observe whether "Dubai WEB3 New Trends" can be used as a reference for Hong Kong RWA.
In "Looking at the Opportunities and Challenges under "US Regulation and Hong Kong New Deal", we discussed the Hong Kong New Deal and the opportunities of Hong Kong's encryption center, but we still think that Hong Kong will have some challenges in becoming a global encryption center. Of course, we also agree that the Hong Kong government’s current choice of an entry point of tens of billions of off-chain assets on the chain (RWA) is a smarter choice—in the next one or two bull-bear cycles, Hong Kong will promote the virtualization of the encrypted economy. The integration of assets and the financial system of the real world is the main battlefield, and it can be attacked or defended. So, how to implement off-chain assets on-chain (RWA)?
We observed that in mid-June, Bank of China International issued 200 million digital notes for the Hong Kong market through UBS, which was a successful practice of RWA-UBS said that the transaction marked the first in the Asia-Pacific region to comply with Hong Kong and Swiss laws and Such products are tokenized on the Ethereum blockchain.
However, some people are also putting forward some opinions and suggestions-the adoption of the "main Ethereum blockchain" mentioned in the original article of UBS is actually not the main network of Ethereum, but a centralized alliance chain deployed by Ethereum for open source code. Under the uncontrollable risks such as policy compliance, supervision and transaction efficiency, traditional institutions still have a long way to go to truly deploy their business on the public chain.
This is also the reason why we put down the topics in our hands and pay attention to the new trend of Dubai WEB3. We hope that the practice and discussion of Dubai RWA can serve as a mirror for Hong Kong RWA.
"Dubai WEB3 New Trends" discusses the RWA track and emerging dark horses for investors to analyze how to enter RWA and carry out global digital asset fixed investment strategies. Among them, BG Trade is worthy of our analysis and introduction because of its more native encryption genes and its real significance in deploying business on the public chain:
BG Trade changes the issuance and trading of real world assets (RWA) through a platform built on the Ethereum Virtual Machine (EVM).
By providing efficient connection opportunities for heterogeneous RWA, BGTrade brings together a platform for multi-dimensional asset investment.
The foundation of BG Trade is to use the Ethereum virtual machine to ensure seamless compatibility with the existing Ethereum ecosystem. By utilizing the functionality and security of EVM, BG Trade has established an on-chain environment for users to participate in RWA transactions.
BG Trade's current average daily trading volume is about 3 million US dollars, has more than 300,000 community members, covers more than 50 countries around the world, and has more than 7,000 holding addresses.
Regarding "How BG Trade provides a series of functions and services customized to enhance the RWA trading experience", we will analyze it in a later article.
In the context of observing the practice and discussion of Dubai RWA, which can serve as a mirror for Hong Kong RWA, we introduce the native applications on the BG Trade chain, aiming to highlight our consistent attitude - Hong Kong needs to integrate the role of "financial center" into In the narrative of Web3/encrypted economy, it is necessary to transform the restless power of speculation in the currency circle into capital that supports the development of the Web3 native market. The key point of this is how the Hong Kong government makes good use of the original DeFi capital in the encrypted economic system configuration role.
Therefore, the native application on the chain represented by BG Trade can be used as a reference for the narrative of the Hong Kong encryption economic center-this will help to play the role of DeFi and currency circle capital in empowering the web3 industry with "financial speculation and capital allocation" as the core. Realize the development of the native web3 technology application market and promote the integration of encrypted economic virtual assets and the real world financial system.