BlockBeats reports that Zhou Chenggang, chief executive and executive director of China Pacific Investment Management (Hong Kong) Co., said tokenized real-world assets are fundamentally different from native blockchain assets such as bitcoin. Speaking on Aug. 29 at the AI × New Finance — Innovation Global Tour · Hong Kong and Yangtze Stars Plan launch event, Zhou said an RWA token is not the asset itself; it is only the on-chain credential for an off-chain real-world asset. Because of that, putting real-world assets on-chain does not automatically remove them from the traditional financial system, he explained. Zhou stressed that core questions — how asset rights are established and enforced, who bears liability when an asset suffers losses, and how information is continuously disclosed — still depend on the traditional financial and legal framework. He added that Web3 is more likely to transform certain parts of finance than to completely overturn the existing system.
At the AI × New Finance — Innovation Global Tour · Hong Kong and Yangtze Stars Plan launch event held Aug. 29, Zhou Chenggang, chief executive and executive director of China Pacific Investment Management (Hong Kong) Co., drew a clear line between tokenized real-world assets and crypto-native assets.
Tokens are credentials, not assets
Zhou said RWA is fundamentally different from bitcoin and other assets that originate on-chain. The token in an RWA structure is not the asset itself, he argued. It is only the on-chain credential representing a real asset that remains off-chain.
Because of that, tokenizing real-world assets does not automatically take them out of the traditional financial system.
Rights, liability and disclosure still need old frameworks
Zhou raised practical questions: how asset rights are established and enforced, who takes responsibility when an asset suffers losses, and how information is disclosed on an ongoing basis. Those parts, he said, still depend on support from the traditional financial system and the legal framework.
Web3 changes parts of finance
His view is that Web3 is more likely to reshape specific parts of finance than to overturn traditional finance altogether.
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