He Yi: The era of easy profits for encryption is over; now we need to focus on the true value of products.

Binance Co-CEO He Yi, during a fireside chat on the theme "Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy," stated: "When the internet first emerged in Silicon Valley, it had a very strong hippie culture. In that era, many people considered those involved in the internet and technology to be geeks or oddballs. However, I think the internet branched out dramatically during that time. Those who went left created the dark web, advocating absolute freedom, while those who went right created Google and Amazon, becoming ordinary commercial companies serving a wider global audience. If you ask me where Binance will go, we will definitely move unwaveringly towards becoming a commercial company serving the masses. But at the same time, as we serve the masses, I think we haven't forgotten that technological innovation is still extremely important, whether it's blockchain technology or AI." Technology, often perceived as subject to stigma or controversy in the crypto space, is a normal phenomenon for new things. If everyone understood it and there were no disputes, how could there be so many arduous challenges and continuous innovation? Looking back at my childhood experiences of going to internet cafes, my mother probably wanted to break my legs. Therefore, when we see blockchain being embraced by both Wall Street and traditional finance in a complete 180-degree turn, I think it precisely indicates that the industry is becoming increasingly mature, and the early-stage dividends are diminishing. When early dividends decrease, complaints tend to increase. The early-stage dividend period is over, and we enter the so-called maturity stage. Crossing the chasm means that all these products need to truly have value and be practically applied. Therefore, I have great respect for many professional technical experts in the industry, but I often ask them a question: What is your technology used for? What problems can it solve? And will anyone be willing to pay for it?