[China Academy of Information and Communications Technology Cloud Computing and Digitalization Research Institute Releases 'Token Economy Development Research Report (2026)'] Recently, the Cloud Computing and Digitalization Research Institute of the China Academy of Information and Communications Technology (CAICT) officially released the 'Token Economy Development Research Report (2026).' The core viewpoints of the report indicate that tokens are evolving from technical measurement units to industry billing interfaces, with three core characteristics of the token economy laying the foundation for its operation. First is measurability: tokens serve as the atomic unit of information, providing a unified quantitative benchmark for cost accounting, performance evaluation, and efficiency optimization across the entire industry chain. Second is tradability: relying on standardized interfaces and rule systems, tokens foster commercial consensus on technological evolution directions and capability stratification. Third is liquidity: tokens can flow freely between global applications and models, and their high composability provides foundational capabilities for complex applications such as RAG and agent toolchains.