Fu Rao, Executive Director of the Hong Kong International New Economy Research Institute: RWA may become another topic for Web3.0

Fu Rao, executive director of the Hong Kong International New Economy Research Institute, wrote an article in Ta Kung Pao titled "The Virtual Asset Ecosystem is Changing", in which he pointed out that Vitalik mentioned in TOKEN2049 that it is now in the early stages of crypto technology being truly usable, and crypto technology is gradually maturing and gaining wider application. It is worth noting that the US Federal Reserve cut interest rates by 0.5%, the first rate cut since March 2020. Grayscale Research pointed out that the Fed's discussion of rate cuts helped support the valuation of cryptocurrencies and traditional markets. The Fed's monetary policy, especially the end of the rate hike cycle and the discussion of rate cuts, has a certain positive impact on the recovery of the cryptocurrency market. As an alternative currency system competing with the US dollar, Bitcoin's valuation may be affected by the Fed's rate cut decision. The decline in real interest rates and the weakness of the US dollar may support Bitcoin's valuation. RWA (real world asset tokenization) shines as a representative of the fusion of Web3.0 and Web2.0. There are very diverse topics such as its on-chain protocol release, application case sharing, supervision and operation process discussion. RWA, with its high asset carrying capacity, rapid recognition by outsiders, and lower risk than traditional Web3.0 assets, may become another topic for the Web3.0 industry to further break out of the circle. (Ta Kung Pao)