RWA's' Two Chains and One Bridge 'Platform Debuts at Hong Kong Fintech Week
At the 9th Hong Kong Fintech Week forum with the theme of Trust Bridge, Ant Group's Ant Chain unveiled its "Two Chains and One Bridge" platform for RWA business for the first time, aiming to help more mainland new energy assets go to Hong Kong for RWA and achieve technological empowerment of physical assets.
Author: Trust Bridge
(Caption: Schematic diagram of "Two Chains and One Bridge")
Zhang Chenguang, the product manager of Ant Group's Web3 business, introduced that "two chains and one bridge" specifically refers to "asset chain", "transaction chain", and "Ant Chain trusted cross chain bridge". The application of "asset chain" in mainland China enables the digitization and standardization of physical assets of enterprises, thereby transforming them into tradable financial products. The 'transaction chain' focuses on tokenizing funds, especially those from traditional financial institutions, to achieve efficient circulation and trading of funds through blockchain technology.
The reason why Ant Chain can provide such a platform is due to its technological leadership advantage, which is an important supporting factor. It is reported that large-scale on chain asset issuance faces two major challenges: how to verify the authenticity of assets and how to control the risks of asset circulation. On the one hand, technology needs to address the authenticity challenge of asset "security and trustworthiness", and on the other hand, it needs to solidify the foundation of "large-scale issuance".
Yan Ying, Chief Scientist of Ant Group, stated that the "Two Chains and One Bridge" is supported by Ant Chain's twin technology system, ensuring that the data of the entire process of on chain assets is verifiable, the circulation is trustworthy, and the security is controllable. Among them, the large-scale blockchain open architecture HOU supports TPS performance for 100000 level transactions, second level transaction on chain time, and PB level data ledger storage and processing capabilities. In addition, Ant Chain relies on industry-leading distributed key algorithms, ZK acceleration services, and AI assisted smart contract auditing tools to achieve a full process trust loop on and off the chain.
At the Hong Kong Fintech Week, reporters observed that over half of the themed activities involved Web3 and RWA (Real World Assets), which became hot topics. The attending experts unanimously believe that RWA is the cornerstone of the integration of Web3 and the physical industry, and the announcement of the Ensemble project (sandbox) exploration by the Hong Kong Monetary Authority is bringing demonstration effects to the industry's compliance and stable development.
At the opening ceremony of the conference, the Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, stated that "the Monetary Authority is developing innovative financial market infrastructure through the Ensemble project to promote the development of the tokenization market in Hong Kong. To this end, the Monetary Authority has launched the Ensemble Sandbox to support its tokenization and central bank digital currency (CBDC) projects, and is exploring tokenization use cases through the initial use of tokenized deposits and CBDC.
The Ensemble project, as an important financial innovation project in Hong Kong, was officially launched in May 2024. The security and stability of the ecosystem are crucial, while also preventing money laundering risks. It is understood that the working group is composed of cross disciplinary industry representatives, with initial members including the Hong Kong Monetary Authority, the Securities and Futures Commission, the Hong Kong Centre under the Innovation Hub of the Bank for International Settlements, the CBDC Expert Group, and seven corporate institutions, namely Bank of China (Hong Kong), Hang Seng Bank, HSBC, Standard Chartered Hong Kong, HashKey Group, Ant Group, and Microsoft Hong Kong.
On August 28th of this year, when the Hong Kong Monetary Authority announced the progress of the first phase of the Ensemble project (sandbox), as a representative case, Ant Group supported the successful cross-border financing of RMB 100 million RWA by the mainland new energy listed company Langxin in Hong Kong, which is also the first new energy RWA project in China, demonstrating the latest exploration and practice of sustainable financial support for the development of the new energy industry.
In the past few years, Ant Chain's trusted on chain technology has been widely applied to new energy fields such as new energy vehicles, batteries, and photovoltaic panels. The cumulative number of on chain devices has exceeded 12 million, making it the largest new energy blockchain device platform in China. Based on data from the new energy asset chain, all parties in the industry chain, including equipment suppliers, equipment operators, financial institutions, and recycling companies, can achieve low-cost and efficient collaboration with mutual trust, creating new value.
Hong Kong is fully exploring the development of Web3, and RWA is the cornerstone of the integration of Web3 and the physical industry. Ant Group is stepping up its efforts in the Greater Bay Area and releasing RWA technology and products to further release industry benefits. The best time for industrial Web3 layout has arrived Industry insiders believe that.
(责任编辑:经济时评)
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