According to a live report, Liu Yanqi, head of global digital currency at HSBC, pointed out at the roundtable forum entitled "Looking at the possible path of future RWA links to new global opportunities": There are still many challenges in the tokenization of real estate assets, such as compliance issues, asset operation, data transmission, and especially cross-border issues. In the short term, we find that familiar financial products such as traditional bonds can be implemented; in the medium and long term, AI and IoT are the general direction of tokenization.