RDA: How Blockchain Turns Real-World Data into Tradable Assets

RDA (Real Data Assets) is a new asset class proposed in 2025 by the Shanghai Data Exchange to monetize real-world data using blockchain. It wraps lifecycle and operational data of physical assets into standardized digital units (Data Asset Shells) that are immutable, verifiable and tradable. The RDA mechanism unfolds in three phases: asset preparation, issuance and trading. During preparation, data is encapsulated with rights certificates and management protocols. In the issuance phase, data service providers and financial institutions onboard assets on-chain under regulatory review. Finally, assets trade in domestic and international markets. RDA supports multiple financing channels, including “ShuYiDai” loans, equity financing, data-asset ABS and global fundraising. Key RDA features include real-data integration, transparency via blockchain, trusted yield distribution, value amplification and ecosystem collaboration. Pilot projects demonstrate RDA’s potential: Shanghai Steel Exchange’s STEEL-CNY stablecoin lowered transaction costs and aims for over CN¥10 billion in annual commissions; COSCO Shipping’s “FreightCNY” increased data valuations threefold with a projected RMB 50 billion annual clearing volume; and the first data-asset ABS listed on the Shanghai Exchange in August 2025. Challenges remain in scaling trade size, refining data rights, standardization, cross-border compliance and commercial model maturity. Looking ahead, RDA could expand across manufacturing, logistics and healthcare, innovate more financing products and drive international data-asset flows.