The Rise of Web3: A Digital Revolution Impacting the Globe

In the long river of human development, we have experienced the leap from the Stone Age to the Agricultural Age, and then to the Industrial Age. Today, we are in a new era - the Digital Age. The core feature of this era is the explosion of technology, especially the emergence and popularization of programmable tools.

The beginning of the digital age can be traced back to the birth of integrated circuit computers in 1964. This marked the entry of humanity into a whole new era, with large-scale programming having a physical foundation. In this age, our tools became programmable, allowing humanity to transform the physical world at an unprecedented speed, fundamentally changing the industrial structure in various fields.

The development of the digital age can be divided into several stages: from the single machine and local area network period of Web0, to Web1 and Web2, and now to the current Web3. Each stage has its characteristics, and the emergence of Web3 marks a new milestone for us.

The core of Web3 lies in granting users more data sovereignty. This is achieved through blockchain technology. Blockchain can provide verifiability to data at the moment of its creation, thereby determining ownership at a consensus level. This stands in stark contrast to the Web2 era's practice of storing user data on centralized servers.

However, the development of Web3 has not been smooth sailing. As an emerging phenomenon, it faces skepticism and restrictions from governments and traditional sectors. Particularly in the field of cryptocurrency, many countries are cautious about it. However, we are also seeing some positive changes. For example, Hong Kong recently released a consultation paper on cryptocurrency trading, which may signal a gradual opening of policies.

Despite facing challenges, the momentum of Web3 development remains strong. Currently, the global number of Web3 users has reached 250 million. Its impact is expanding from the financial sector to various fields such as gaming, social networking, content creation, communication, healthcare, and education. At the current rate of development, the number of Web3 users could reach 1 billion within 5 years and cover 60% of the global population within 10 years.

This digital revolution is changing our world at an unprecedented speed. It represents the steepest stage of value growth for humanity since the Stone Age. In this rapidly changing era, each generation will experience a vastly different world. In the face of such transformation, each of us needs to be prepared to embrace this new era filled with opportunities and challenges.