Data has become a core driving force for economic development, and revitalizing the value and promoting the use of data assets is the main goal of the current efforts to promote the market-oriented allocation of data elements and comprehensively build a digital China. As the process of realizing the value of data is constrained by financial and technological inputs, the release of data potential faces bottlenecks. Against this background, data asset securitization, as an innovative mode of combining data assets and securities financing, can expand financing channels and reduce financing costs for enterprises to activate the value of data assets, which has attracted much attention and continues to transmit new trends. At present, this new model of securities is in the preliminary stage of exploration, it is necessary to explain the intrinsic rationale for the realization of its value based on the triple value evolution from data resources to data assets to data capitalization, that is, it is the dynamic practice of initially generating data resources to processing and acquiring data assets and then realizing the securitization of data assets, which embodies the value-added value of data elements. In this dynamic process, the unique attributes of data elements distinguish data asset securitization from traditional asset securitization, presenting a deep connection with emerging technologies, especially blockchain technology, and its technologically native characteristics help to facilitate the digital reshaping of the entire process of securities. By reviewing the current development status of the new model of securities coupled with "data+capital", it is found that there are many problems in the exploration of data asset securitization, such as unclear property rights specification, missing transaction mechanism, mismatch of supervision and management, etc., which have become constraints to activate the value of data assets. In view of this, based on the dual objectives of financial innovation and risk prevention and control, the path design should be carried out from the two-dimensional perspective of the synergistic effect of law and technology to crack the realistic dilemma of the current practice of data asset securitization. Specifically, in order to release the value potential of data assets and promote the securitization of data assets, it is necessary to strengthen the supply of the legal system by improving the property rights system, transaction norms and regulatory rules; enhance the technical support of blockchain by promoting the use of technology and perfecting the technical norms; and promote the overall effect of the supply of law and technological empowerment through the synergy of the objectives, the articulation of rules and the coordination of interests.