币界网报道：In order for RWA (real world asset tokenization) to realize real financial value, it must break through the "on-chain accounting" stage and reach the "on-chain clearing" level. Lawyer Liu Honglin pointed out that most current RWA projects only "post-upload" offline data to the chain, which is essentially a centralized process. A true RWA needs to meet two major standards: first, data flow must be automatically uploaded to the chain in real time through sensors, APIs, etc., and second, capital flow must be automatically settled by smart contracts through stablecoins. He emphasized that the core value of stablecoins is to make funds programmable and realize the synchronous and automatic flow with data. Only RWA combined with stablecoins can complete the on-chain closed loop of the entire life cycle of assets. For RWA projects that lack the participation of stablecoins, their tokens are only "experience coupons" with display functions, which cannot substantially improve financial efficiency.