TechFlow news — On March 17, Yao Qian, Director of the Bureau of Science and Technology Regulation at China's Securities and Exchange Commission, published an article in *China Finance* stating that Web3.0 is the emerging next-generation internet. With continuous innovation and advancement of various information technologies, the internet is gradually evolving toward a new phase. This evolution may trigger a new wave of information revolution, profoundly reshaping people's lives, work, and all aspects of society. Web3.0 represents a new economic system co-built and shared by users and builders, which will reconstruct the organizational forms and business models of the internet economy. Furthermore, Web3.0 has the potential to significantly improve the current internet ecosystem by effectively addressing issues prevalent in the Web2.0 era such as monopolies, lack of privacy protection, and malicious algorithms, making the internet more open, inclusive, and secure, and driving its innovative development into a higher stage—toward a trustworthy internet, value-based internet, intelligent internet, and holographic internet.
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