[Taiping Life Investment Hong Kong CEO Zhou Chenggang: RWA is not 'putting assets on-chain' and still relies on the traditional financial system] BlockBeats News, on August 29, at the 'AI × New Finance—Innovation Global Tour · Hong Kong Stop and Changjiang Star Program Launch Event,' Zhou Chenggang, CEO and Executive Director of China Taiping Life Insurance (Hong Kong) Company Limited, stated that RWA (Real World Assets) is fundamentally different from on-chain native assets like Bitcoin. The token of an RWA itself is not the asset but merely an on-chain certificate of real-world off-chain assets. Therefore, RWA does not break away from the traditional financial system simply by being on-chain. Zhou Chenggang pointed out that aspects such as how asset rights are established and enforced, who bears responsibility in the event of asset losses, and how information is continuously disclosed still require the support of traditional financial and legal systems. Web3 is more likely to transform certain aspects of finance rather than completely disrupt the traditional financial system.