TechFlow news: Xiang Feng stated during his closing speech at the 2024 Hong Kong Web3 Festival that blockchain technology has completed its phase from 0 to 1 and is now entering a critical period of scaling from 1 to 10, signaling a massive explosion in applications.
He pointed out that the decade from 2024 to 2034 will be Web3's "1995 moment," analogous to the internet's golden decade of application growth between 1995 and 2005.
Xiang emphasized that blockchain and AI are the two pillars of Web3. Blockchain has resolved the "impossible trinity" challenge through layering and sharding technologies, while AI's "general multimodal models" are also enabling application innovation.
Blockchain technology represents a fundamental transformation in accounting methods, creating a transparent and public "global public ledger" that brings profound impacts to economic and social civilization.
