"Web3 is about to explode on a large scale"
The next ten years will be the "1995 moment" of Web3, which indicates that Web3 applications will usher in an explosion and value discovery in the next ten years. Xiao Feng’s closing speech at the Hong Kong Web3 Carnival pointed out that blockchain technology has completed the stage from 0 to 1 and is now in the critical period from 1 to 10, indicating a large-scale explosion of applications. He believes that 2024 to 2034 will be the golden decade of Web3, similar to the Internet's application explosion period from 1995 to 2005.
The two pillars of Web3 are blockchain and artificial intelligence AI. Blockchain solves the "impossible triangle" problem through layering and sharding technology, and the "universal multi-modal model" of artificial intelligence also provides support for application innovation. He also called for the development of a Web3 "browser" and "graphical operating system," the latter of which may be based on AI's natural language processing technology.
Accounting methods are the cornerstone of economic and social civilization, and blockchain technology represents a fundamental change in accounting methods. Starting from first principles, he explained the three major evolutions of accounting methods in human history: single-entry accounting, double-entry accounting, and the emergence of distributed ledgers. Blockchain technology is regarded as the fourth major evolution, creating an open and transparent "global public ledger" and bringing far-reaching impact to the economy and social civilization.
In my opinion, with the continuous emergence of disruptive innovations such as digital nativeness, digital autonomy and value sharing of the Web3 platform, as well as the leadership of the development model from edge to core, from native to twin, Web3 is expected to achieve application development in the next ten years. Explosion and discovery of value. This outbreak will have a profound impact on the economy, society and culture, shaping new business models and social structures.
