A decade after co-founding Ethereum, Gavin Wood remains dedicated to revolutionizing the internet through decentralization.
Now leading Polkadot, Wood is taking Web3 beyond cryptocurrency and into real-world applications.
At the Polkadot Jam Tour, where he met with global developers, Wood spoke in Hong Kong ahead of the city’s first Consensus Conference by CoinDesk.
His vision? Expanding Polkadot’s scalability and allowing standard software to run seamlessly on the blockchain.
Web3’s Integration with Finance and Regulation
Wood believes Web3 is gradually becoming an accepted framework for banks and regulators, leading to greater financial system integration.
However, he downplays the role of stablecoins, calling them “less interesting” compared to other Web3 innovations.
Rather than relying on centralized Web3 hubs, Wood advocates for decentralized collaboration, emphasizing that blockchain technology naturally thrives on openness and innovation.
Asia’s Growing Role in Blockchain Innovation
Despite China’s strict cryptocurrency regulations, Polkadot has cultivated strong developer communities across Asia. Hong Kong, in particular, has emerged as a key blockchain hub, hosting projects like:
- FIFA Rivals – A blockchain-based football game
- Mandalachain – A platform bringing public services onto the blockchain in Indonesia
Wood, who originally coined the term Web3, envisions a future where technology fosters transparency and trust. “Web3 is about building systems that do what they promise,” he stated, emphasizing that privacy solutions should be decentralized.
The Future of Web3: Gaining Momentum
As financial institutions show increasing interest and global political landscapes shift, Wood is confident that Web3 adoption will continue to accelerate.
His 11-year commitment to blockchain development underscores his belief in its resilience and reliability.
What are your thoughts on the future of Web3? Share your insights in the comments!
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