Ant Chain's Yan Ying talks about Web3: An era of highly active digital asset circulation is coming

24-09-05 16:33

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Original source: Ant Chain

"An era of highly active digital asset circulation is coming."

On the afternoon of September 5, at the Web3 sub-forum of the 2024 Inclusion·The Bund Conference, Ant Digital Chief Scientist Yan Ying made a judgment that with the gradual maturity and popularization of Web3 technology, the assets, data and physical objects in the physical world will be tokenized and seamlessly connected with the digital world, and tokenization will make transactions more efficient, accelerate the circulation of assets, and stimulate new vitality for economic growth.

Caption: Ant Chain Chief Scientist Yan Ying

Yan Ying is an early technical member of Ant Chain. She led the team to obtain more than 5,000 blockchain authorized patents worldwide and witnessed the leap of the Web3 era. In her speech, she said that since 2018, Web3 has successively experienced the infrastructure construction stage with "on-chain transaction volume" as the measurement standard, and the data value stage with "on-chain data usage" as the main performance. Now Web3 has entered a new "asset financing stage", and the issuance of on-chain assets will move towards scale.

The typical practice of "tokenization" is RWA (Real World Assets-tokenization), which is a form of asset ownership trading on the blockchain in digital form (Token). Compared with the problem of difficulty in confirming the ownership and trading of physical assets, RWA can split physical assets into multiple "on-chain" digital assets, and bring more liquidity to physical assets with the interoperability of the global blockchain network.

Recently, the Hong Kong Monetary Authority announced an important progress in the first phase of its Ensemble project sandbox, and four tokenization theme cases have attracted widespread attention in the market. Taking new energy charging pile assets as an example, with the support of Ant Digits and the HKMA's Ensemble project, the listed company Langxin Technology used some of the charging piles operated on the platform as RWA anchor assets and successfully obtained the first RWA cross-border financing in Hong Kong, with an amount of approximately RMB 100 million.

Yan Ying believes that how to verify the authenticity of assets and how to control the risks of asset circulation are the two major challenges facing asset tokenization, and these should be solved in a technical way. She said: "Extreme performance and security and trustworthiness are the eternal pursuit of web3 technology." In the face of large-scale on-chain asset issuance, technology must, on the one hand, lay a solid foundation for "large-scale issuance" and, on the other hand, solve the authenticity challenge of "security and trustworthiness" of assets.

Based on this, Ant Chain has built a trusted digital twin technology and a large-scale blockchain open architecture with blockchain as the core, supporting 100,000-level transaction TPS performance, second-level transaction on-chain time, and PB-level data ledger storage and processing capabilities. In addition, Ant Chain has built a full trust closed loop on and off the chain, using secure and verifiable basic technologies to ensure the extension of trust. Through AI-assisted contract auditing tools, it provides efficient, accurate, and comprehensive contract security services.