Zhou Chenggang from China Pacific Insurance: RWA is Closely Related to Traditional Financial Systems

On August 29, at the "AI × New Finance - Innovation Global Tour: Hong Kong Station and Yangtze Stars Program Launch Conference," Zhou Chenggang, CEO of China Pacific Insurance (Hong Kong) Co., Ltd., stated that RWA is fundamentally different from on-chain native assets like Bitcoin. The Token of RWA is not an asset but a blockchain certificate of off-chain real assets. He pointed out that putting RWA on-chain does not mean separating from the traditional financial system; the establishment and execution of asset rights, the assumption of loss liabilities, and the continuous disclosure of information still rely on traditional financial and legal systems. Zhou believes that Web3 is more likely to transform certain aspects of finance rather than completely overturn traditional finance.

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