Former SVP at bitcoin mining company in China
- Decentralisation and distributed internet, plus Web 3.0’s emergence and development history
- Web 3.0 – characteristics, ecosystem and industry chain, including underlying blockchain technology, platforms and organisations and application scenarios
- Leading Chinese technology and internet companies’ development strategies and investment planning for Web 3.0
- China’s regulatory environment and potential risks, viable business models and start-up opportunities
- Overseas Web 3.0 start-up teams and business models
Could you briefly introduce yourself and your work experience in the blockchain and Web 3.0 industry?
Could you explain the concept of decentralised and distributed internet? What’s your opinion on the emergence of Web 3.0? What are the respective core features of Web 1.0, Web 2.0 and Web 3.0?
What do you think drives the development of Web 3.0? Web 3.0 doesn’t seem to have any specific application scenarios in China, but there are many social platforms, games and NFTs based on Web 3.0 overseas, especially in the US and Singapore. Could you briefly review the emergence and development of Web 3.0 in China and overseas in the past few years?
It’s easy to understand the application of NFTs in copyright transactions. However, how can Web 3.0 replace Web 2.0 in business scenarios such as social and e-commerce platforms? Will it take a long time for Web 3.0 to completely replace Web 2.0?
If we want to use Web 3.0 to control our own data, who will bear the costs of the underlying chains or technologies? After all, data needs to be stored. Will data storage maintenance be the responsibility of users or by platforms?
How do the decentralised data integrate with those on Web 2.0 platforms? Can data be transferred between the platforms, say, from Web 2.0 platforms to Web 3.0 ones? Are Web 3.0 platforms independent?
Let’s talk about the industry ecosystem of Web 3.0. Can you elaborate on the industry chain? Which technology suppliers and platform operators are involved? What are the corresponding application scenarios? What are the different industry chains?
The industry chain is indeed long, and the upstream entails more technologies and hardware. Do you think the industry will be more segmented or centralised in the future? It seems that the multiple players may each have their own Web 3.0 platform based on different blockchains. How do you find the entry barriers and future competitive landscape, especially in the upstream?
Some people believe that the whole ecosystem in overseas countries can see more vigorous development. For example, the Ethereum public blockchain is becoming increasingly mature. However, in China, no resources can support the development of Web 3.0. Public blockchains in China haven’t been fully developed over so many years. Can you comment on such views? Are public blockchains also prerequisites for the development of Web 3.0?
You just mentioned that China lacks the necessary conditions for tokens. In many overseas countries, the development of Web 3.0 and public blockchain is closely related to token transactions or speculation. It seems that the development of Web 3.0 or blockchain cannot be completely separated from cryptocurrency speculation. Does this mean that, in China, if players only develop some blockchain applications, it will be very difficult for them to make a breakthrough or attract the attention of more users and investors in China?
Can you elaborate more on the digital RMB? What is the relationship between the digital RMB and Web 3.0? What are its application scenarios? What about the new application scenarios and business models it can bring about in China?
Could you elaborate on the Chinese version of Web 3.0? Under China’s policies and business environment, what might be the viable business models and application scenarios of Web 3.0? What can start-ups tap into?
Will service providers lose motivation for adopting Web 3.0? For instance, if players buy in-game items through Web 3.0 where they can trace copyrights and trade via the blockchain, game service providers might not make profits or may bear higher costs.
Could you comment on the investment planning and development strategies of leading Chinese technology and internet companies on Web 3.0? Are they making any relevant plans or investments?
Since this March, overseas Web 3.0 companies have started frequent fundraising. As a metaverse platform in the Web 3.0 field, Oasis Foundation has raised tens of millions of USD in its series B financing. In April, CertiK, a Web 3.0 security firm raised USD 88m in its B3 financing. In May, NodeReal, a Web 3.0 technology company raised USD 16m in its series A financing. Could you elaborate on the entry points in the field of Web 3.0 of these companies and some other overseas companies that you find interesting? In which links can start-ups have the largest opportunities? What are the development models and strategies of these companies as Web 3.0 technology providers, platforms or even users?
What are the future business models of relevant platforms and underlying core technology providers?
Taking costs into consideration, what is the revenue structure of these platforms and technology providers? Can they break even and gain profits quickly or benefit in a long run?
How do Meta, Google and other leading foreign technology companies plan for Web 3.0? What are their entry points, application scenario development and investment ideas in the industry chain?
What are the biggest risks for foreign start-ups and technology giants to enter the market?
Which overseas Web 3.0 companies do you personally prefer in terms of mature technology and better business model?
How would you predict Web 3.0’s development process, key milestones, the evolution of application scenarios and forms in China and especially in overseas countries? When will it be put in place? Who will be the main players when the time comes? Will it be tech giants or start-ups?
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