Heading 1: The Early Days of the Crypto Industry are Long Gone; Products Must Provide Real Value to Solve Problems

BlockBeats Live Report: On April 20, 2026, during the first day of the 2026 Hong Kong Web3 Carnival, Binance Co-CEO He Yi participated in a fireside chat on the theme "Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy," where he said:

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

However, at the same time, when we are serving the masses, I think one thing we have not forgotten is that technological innovation is still very important. Whether it's blockchain technology or AI technology, many times people may think that the stigmatization of the crypto field or the so-called public opinion is normal for new things. If everyone understands, if there is no controversy, how can there be so many arduous challenges and continuous innovation? Looking back at when we used to go to internet cafes in our childhood, at that time, my mom would have loved to break my legs."

"So when we see today that blockchain is already being embraced by both Wall Street and traditional finance in a 180-degree turn, I think it actually shows that this industry is becoming more and more mature. At the same time, the early dividends of this industry are actually getting fewer. When the early dividends diminish, people's complaints will increase. When the early dividend period is over, we enter the so-called mature period, which means all these products need to truly be valuable and practical."

"So I actually have great respect for many of the technical experts in the industry, but I often ask them a question: What is this technology for, what problem can it solve, and can someone be willing to pay for it?"