He Yi: The Crypto Dividend Era Has Passed, Now We Need to Focus on the Real Value of Products

Odaily News Binance Co-CEO He Yi stated during a fireside chat on the theme "Reshaping Convenience: The Next Decade of Web3, AI, and the Intelligent Economy":

"When the internet first emerged in Silicon Valley, it had a very strong hippie culture. In that era, many people also thought those involved in internet technology were geeks and weirdos. But in that era, I believe the entire internet experienced a significant branching. The group that went left created the dark web, advocating for absolute freedom. The group that went right created Google, Amazon, and became ordinary commercial companies serving a global audience. If you ask me where Binance is headed, we will undoubtedly and steadfastly move towards becoming a commercial company that serves the masses.

However, at the same time, while we serve the masses, I believe one thing we haven't forgotten is that technological innovation remains extremely important. Whether it's blockchain technology or AI technology, many times people talk about the stigmatization in the crypto space, or so-called public opinion. These are very normal for new things. If everyone could understand it, if there were no controversy, then how could so many arduous challenges and continuous innovations emerge? Looking back at when we went to internet cafes as kids, my mom at the time practically wanted to break my legs.

So, when we see today that blockchain is being embraced, whether by Wall Street or traditional finance, with a complete 180-degree turn, I think it precisely indicates that this industry is becoming increasingly mature. Similarly, the early-stage dividends in this industry are actually becoming fewer and fewer. When early-stage dividends diminish, people's complaints tend to increase instead. Once the early dividend period passes, it enters the so-called maturity phase, requiring crossing the chasm. This means all these products need to figure out how to have real value and achieve practical implementation.

Therefore, I actually have great respect for many of the professional technical experts in the industry. But I often ask them one question: What is your technology used for? What problems can it solve? And will there be people willing to pay for it?"