GCL Energy Technology co-develops China's first technical standard for real-world asset tokenization

GCL Energy Technology Co Ltd has spearheaded the development of China's inaugural technical standard for blockchain-based real-world asset (RWA) tokenization, which was recently approved by the China Academy of Information and Communications Technology (CAICT), and established a trust framework for the trillion-dollar RWA market. 

On December 23, 2024, GCL Energy Technology and Ant Digital Technologies jointly launched China's first RWA project for photovoltaic assets, valued at over 200 million yuan ($27.7 million). Anchored by 82MW of residential solar assets in Hubei and Hunan provinces, the project integrates blockchain and IoT technologies to encrypt and tokenize critical operational data and revenue streams, creating traceable and tamper-proof digital tokens.

According to Boston Consulting Group (BCG), the global tokenized asset market is projected to reach $16 trillion by 2030, with renewable energy assets poised to drive significant growth.

GCL's residential PV system employs smart terminals to collect real-time generation data, enabling blockchain-based lifecycle certification and significantly lowering financing barriers for solar assets by providing investors with verifiable revenue streams, it said.

In December 2024, GCL and Ant Digital Technologies inked a strategic partnership to deepen collaboration in distributed PV, energy storage, and integrated energy services. Ant's platform has already enabled GCL to tokenize asset ownership and fund flows, with future applications extending to carbon credit trading.

GCL's dual role as both a standard-setter and large-scale practitioner further strengthens its leadership in green finance. The specifications are expected to unlock global capital flows for China's renewable infrastructure, enhance ESG recognition through blockchain transparency, establishing standardized solutions for the sector, it said.

zhengxin@chinadaily.com.cn