Since 2014, the ten-year development journey of Crypto has not cultivated a real user base in the world of Crypto. The vast majority of participants in this industry are speculators and traders, not real users. Without users, there is no driving force or direction for innovation. This is the main reason why the current blockchain and Web3 are trapped in an innovation dilemma. To break free from this predicament, acquiring and nurturing users is a top priority. Everyone should consider: what exactly is the problem that users are willing to spend money to solve, which the existing internet and social networks cannot solve or solve poorly, and needs to be addressed by blockchain? I feel that very few people are pondering such questions now; most projects revolve around some concepts and doctrines all day long, which is something the industry needs to deeply reflect on and change.

Web3 is a new economic entity of an era, characterized by two significant features (a: value co-creation becomes contribution-driven, b: token economy becomes consensus-driven). The large-scale application of Web3 must take root and grow in the sunlight, created for the purpose of meeting demand, not just for the sake of creation. Pure Web3 lacks healthy and sustainable productive forces; the rapid and barbaric growth of the past industry has slowly become history! Large-scale applications in the Web3 industry have yet to emerge. The extreme innovation of the new era of Web3 requires real demand applications of technology to generate economic value. The combination of Web2 and Web3 will produce more healthy and sustainable productive forces. Whether in payment, consumption, or social interaction, applying Web3 technology to empower real scenarios through the genuine demands in the real world is essential for the long-term construction, sedimentation, and accumulation of this industry. I firmly believe in empowering the real economy with the ideological theory of Web3 to change production relations. This process is undoubtedly slow, but as time goes by, the overly financialized Web3 will gradually become history. #AI #web3IP #Xbitoeth