Xiao Feng, Chairman and CEO of HashKey Group: On-chain and on-chain are different states of real assets and digital assets

Odaily News At the 2024 Hong Kong SmartCon conference hosted by Chainlink, Dr. Xiao Feng, Chairman and CEO of HashKey Group, said: "From the perspective of the oracle, or the on-chain perspective, all assets can be regarded as being in two states - one is 'on-chain', that is, real-world assets or assets that require digital twins. The key lies in the tokenization from off-chain to on-chain; the other is 'on-chain', that is, digital native assets. The key lies in the bondization from on-chain to off-chain. In this way, the on-chain and off-chain are interoperable. DePIN is to put hardware devices on the chain, but the chain is not the ultimate goal, but to achieve the tokenization of real assets. To some extent, there is an intersection between RWA and oracles. The ultimate goal of all on-chain operations is to establish a business closed loop and facilitate global investors to mobilize liquidity for investment. Distributed ledgers and blockchain networks will help to improve the marginal utility of business models and significantly reduce costs." In addition, he said that Hashkey Chain will be launched in the near future and will run in the form of Ethereum L2 network.