《Hurun Report》 Dialogue with Justin Sun: A New Paradigm of Value Circulation Under the Web3 Transformation Cycle

As the Web3 industry enters deeper waters and global financial infrastructure accelerates its restructuring, blockchain is moving from early exploration to large-scale application.

As an authoritative institution with broad influence in business and investment, an in-depth interview by the renowned magazine *Hurun Report* is widely regarded as a key industry indicator.

Recently, Justin Sun, founder of TRON, gave an interview to *Hurun Report*. He systematically elaborated on his views regarding industry evolution and long-term value, centering on core topics such as stablecoin payments, globalization paths, and the trend of AI integration. His perspective also reflects the critical phase where Web3 infrastructure transitions from "feasibility verification" to "global adoption."

Stablecoins Build a Global Value Circulation Network, Web3 Infrastructure Enters a Phase of Scale

In the *Hurun Report* interview, Justin Sun summarized his long-term core goal with remarkable simplicity: "To enable anyone, anywhere in the world, regardless of whether they have a bank account, to transfer and use their funds at low cost and high efficiency." This statement fundamentally reveals the value proposition of blockchain technology—building an open and inclusive value internet.

He further pointed out that after multiple market cycles, projects capable of withstanding the test of time must be built on real demand and actual usage. The sustained growth in on-chain user numbers and transaction volume serves as his key metric for judging industry direction. In this context, the on-chain payment system centered on stablecoins has become the most mature use case with the potential to scale.

In the *Hurun Report* interview, Sun mentioned that TRON has rapidly developed into one of the world's largest stablecoin circulation networks, with the scale of its on-chain asset transfers even surpassing some traditional payment networks. This growth is not driven by short-term market sentiment but by consistent use from real users in scenarios like cross-border remittances, value storage, and daily payments. Official data shows that the circulation of USDT on the TRON network has now exceeded $86.3 billion, highlighting the powerful network effects driven by genuine user demand.

From a structural advantage perspective, the scaling of stablecoin payments benefits from two key factors: on one hand, blockchain networks are open and permissionless, enabling them to cover user groups that traditional financial systems struggle to reach; on the other hand, the limitations of traditional cross-border payment systems in terms of efficiency, cost, and user experience create significant room for replacement by next-generation infrastructure. Sun believes this trend is essentially a "natural substitution" of the existing financial system by technological progress, rather than short-term competition.

Global Strategy and Technological Integration Advance Together, Building Web3's Long-Term Competitive Advantage

When discussing corporate growth and strategic decision-making in the *Hurun Report* interview, Justin Sun outlined a highly systematic methodology. He summarized the key success factors as the combination of "data-driven iteration, rapid execution, and user orientation," emphasizing that in a fast-changing technological environment, a single-dimensional capability is no longer sufficient to sustain long-term competitiveness. Efficient trial and error, along with precise decision-making, require the synergy of all three elements.

At the organizational level, he proposed a management framework based on "clear direction, layered support, and a sense of ownership among all employees" to prevent deviation and loss of control during rapid expansion. This emphasis on a flat and agile organizational structure is seen as a crucial foundation for Web3 companies to maintain competitiveness in an environment of high uncertainty.

Regarding specific key strategic decisions, Sun recalled the case of TRON's partnership with Tether to launch TRC-20 USDT in the *Hurun Report* interview. He stated that this decision was based on a comprehensive assessment of market trends, competitive dynamics, and risk-reward ratios: stablecoins represent a long-term trend in the evolution of financial systems, top-tier assets possess significant network effects, and the upside potential in this field far exceeds the potential risks. History has proven that this partnership became a major growth engine for the TRON ecosystem and built its core competitive moat in the stablecoin sector.

In terms of global expansion, Sun emphasized that while Web3 has inherent cross-border characteristics, successful implementation still heavily depends on local compliance and cultural adaptation. In the *Hurun Report* interview, he pointed out that different markets have significant differences in regulatory frameworks, user habits, and business environments. A project's success often hinges on the depth of understanding of these differences and the ability to build local partnership networks.

Furthermore, Sun expressed a clear judgment on the development of AI technology. He stated in the interview that AI is not simply an upgrade of tools, but a restructuring of "thinking and decision-making capabilities." Its combination with blockchain at the levels of data, computing power, and intelligent execution will become a key direction for the next phase of technological evolution. Blockchain provides decentralized infrastructure for AI, while AI enhances the intelligence and user experience of blockchain systems. The integration of the two holds significant long-term strategic value.

For industry participants and young entrepreneurs, Sun's core advice in the *Hurun Report* interview was: In a highly uncertain environment, continuous learning and rapid adaptation are the most critical abilities. At the same time, one should make focused investments based on a holistic understanding of the industry to build irreplaceable core strengths, rather than dispersing resources across multiple tracks.

Starting from early technological verification and market exploration, the industry is gradually entering a phase of large-scale application led by stablecoins, and extending towards AI integration and global compliance. In this process, TRON continues to drive the implementation and evolution of the value internet through its infrastructure capabilities, global strategy, and forward-looking technological layout.