Xiao Gang: Web3 is not only a technological innovation, but also a change in thinking

Xiao Gang, member of the 13th National Committee of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission, delivered a speech at the "Mirror of the Future Web3 Digital Dream Materialization" forum, saying: We focus on the decentralized platform brought by Web3 technology to promote the development of financial services for the real economy. In terms of science and technology finance, the decentralized financial platform brought by Web3 technology can provide a global source of funds for science and technology companies, increase the financing and investment flexibility and capital efficiency of entrepreneurs. Smart contract technology can realize the automated execution of business logic and the transparency of transactions, reducing operating costs and risks; in green finance, Web3 technology can help establish a more transparent and credible carbon footprint tracking and trading system. Improve the traceability and trust of green finance. In inclusive finance, Web3 technology can also help lower the threshold of financial services; in digital finance, Web3 technology promotes the digitization of the financial market, such as the issuance of assets through tokenized assets. Transactions are more efficient and flexible, while strengthening users' control over digital assets, providing infrastructure and technical support for the in-depth development of digital finance. Web3 is not only a technological innovation, but also a change in thinking.