Recently, Web3.0 concept stocks of A-share listed companies have risen against the trend and become a new hot spot in the market. On November 10th, Web3.0 concept stocks triggered a surge, with Quanshi World Online Network Information gaining eight consecutive limit-ups in 10 days, and Rongji WISP gaining four consecutive limit-ups. Many listed companies, including Philisense, COL, Net263, CSII, and TungKong, have responded that they have laid out related businesses. Shi Xingguo, the founder of Hyperchain, was invited by Huoxun.com to interpret this phenomenon.
For recent news, the “Action Plan for the Integration and Development of Virtual Reality and Industry Applications (2022-2026)” jointly issued by the Ministry of Industry and Information Technology, the Ministry of Education, the Ministry of Culture and Tourism, the State Administration of Radio, Film and Television, and the General Administration of Sport proposes that by 2026, China’s virtual reality industry’s overall scale (including related hardware, software, applications, etc.) will exceed 350 billion yuan, achieving breakthroughs in key virtual reality application areas such as industrial production, cultural tourism, integrated media, education and training, sports and health, business and creativity, and smart cities. According to GrandView report data, the global Web3.0 blockchain market is expected to reach USD 33.53 billion by 2030, with a compound annual growth rate of 44.9% from 2022 to 2030.
Regarding the Web3.0 concept frenzy of listed companies, Shi Xingguo believes that Web3.0 is the general trend, and the recent positive actions of the Hong Kong government in the Web3 field have brought great optimism to the capital market. This is a very good sign, indicating that the development of Web3.0 has attracted attention beyond the professionals and has a positive effect on promoting the realization and popularization of Web3.0.
However, Web3.0 is still in its early stages and should be approached with rationality. Companies should not only prevent capital from using false demand to speculate but also adopt a tolerant attitude towards trials and errors.
Meanwhile, Shi Xingguo made the following suggestions for listed companies to lay out Web3.0:
- Laying out Web3.0 is not an option but a necessity. companies that do not attach importance to the Web3.0 trend will lose their competitive advantage in the future.
- Web3.0 is not a simple continuation from Web2.0. Companies laying out Web3.0 must pay attention to business transformation and even redesign business models.
- Identify the role of digital rights and digital assets in future business.
- Web3.0 will go through a long development process. Treating Web3.0 as a short-term plan is doomed to fail.
- Companies should lay out Web3.0 from a strategic perspective. The technology required for Web3.0 has a long way to go, and there is no possibility for a fast success.
- The current business and market of Web3.0 are still far from mature. It is currently a period of technology accumulation, and the victory in the next three years will depend on the planning and investment in related technology today.
Shi Xingguo is a member of the Blockchain Special Committee of the China Computer Federation, the founder of Hyperchain, a senior practitioner and technical expert in the internet and operating system industries, a winner of the National Science and Technology Progress Award, the inventor of parallel blockchain technology, and the founder of Paralism. He has served as Vice President of the Red Flag Linux Company and Chief Internet Engineer of the Institute of Software, Chinese Academy of Sciences. In 2016, he led the team from Chinese Academy of Sciences to establish Hyperchain Information Technology Co., Ltd., which focuses on parallel blockchain technology and has made important breakthroughs. Its core technology has obtained patent authorization in 27 countries in China, the United States, and the European Union.
Hyperchain is the most advanced parallel blockchain and the first parallel blockchain to receive patent authorization internationally. Its core team comes from the Chinese Academy of Sciences and is China’s earliest and most professional blockchain technology and product development team. Hyperchain’s groundbreaking parallel blockchain technology has overcome key technical bottlenecks in blockchain, such as performance, scalability, and capacity, and can comprehensively support public chains, consortium chains, and private chains. It also has the ability to support backbone-level value transmission and storage on the internet, and is currently the only blockchain technology that can meet the requirements of enterprise development and industrial transformation. As the creator of the parallel blockchain technology system, Hyperchain Technology is currently the only provider that can provide parallel blockchain products, consulting, customized solutions, and services internationally and domestically.