[The Institute of Cloud Computing and Digitalization of China Academy of Information and Communications Technology released the "Token Economic Development Research Report (2026)"] On September 30, the Cloud Computing and Digital Research Institute of the China Academy of Information and Communications Technology officially released the "Token Economic Development Research Report (2026)". The core point of the report stated that tokens have moved from technical measurement units to industrial billing interfaces, and the three core features of the token economy have laid the foundation for operation. The first is measurability, with words as information atoms, providing a unified quantitative scale for cost accounting, performance evaluation and efficiency optimization of the entire industry chain; the second is tradability, relying on standardized interfaces and rule systems to generate business consensus on technology evolution directions and capability stratification; the third is mobility, words can flow freely between global applications and models, and its high degree of composability provides basic capabilities for complex applications such as RAG and agent tool chains.