Babbitt reported on the spot that on December 1, the construction of the Hainan International Offshore Innovation and Demonstration Demonstration Zone and the Blockchain · Digital Asset Trading Technology Innovation High-end Forum was held in Sanya, Hainan. China Asset Securitization Forum Chairman Meng Xiaosu said in his speech that blockchain and asset tokenization will become a disruptive technology for real estate asset transactions. The technical characteristics of the blockchain's anti-tampering and decentralized database have three applications in the real estate asset tokenization. One is share and customizable, and the ownership can be shared; the second is smart contracts and automation, reducing Friction and cost; the third is the exchange based on the blockchain, token securities can be traded in the secondary market based on the blockchain infrastructure. He called for the establishment of the Hainan REITs Exchange in Hainan. If the "Hainan Exchange" has a blockchain infrastructure, it can carry out trading in the secondary market of token securities.