【Viewpoint: 'Everything Can Be RWA' is a False Proposition, Currently Only Covers Five Mainstream Asset Classes Such as Finance and Real Estate】According to a report by Golden Finance and 21st Century Economic Report, Hong Kong has released the RWA industry white paper system proposing standards and frameworks for asset selection, while breaking the market's rhetoric of 'Everything Can Be RWA', indicating that not all assets are suitable for RWA tokenization. Successfully scaling assets for implementation must meet three main thresholds: value stability, clarity of legal rights, and verifiability of off-chain data. At this stage, it mainly covers five categories of mainstream assets: financial assets such as gold, bonds, and funds; new energy assets such as photovoltaic; real estate; intangible assets such as carbon credits, data, and intellectual property; and computing power assets such as GPU hardware.