The Web3 industry is heading towards a "New Era of Compliance". Are we heading in the wrong direction in our pursuit of "Mass Adoption"?

Recently, the challenges faced by the Ethereum ecosystem have sparked widespread discussion within the industry. As an observer who pays attention to both the Web3 sphere and the traditional financial system, I have noticed a clear divide in the development paths of the two fields.

In the Web3 world, new technologies and concepts are emerging one after another, but most projects seem to focus more on short-term speculation rather than solving real problems. At the same time, traditional financial institutions and governments are actively embracing blockchain technology, viewing it as an important upgrade opportunity for the existing financial system.

The "Finternet" concept proposed by the Bank for International Settlements ( BIS ) marks the acceleration of this trend. The BIS has been deeply researching Web3 technology for many years and has conducted multiple experimental projects through its innovation center. The most representative of these is the mBridge project, a public permissioned chain based on EVM that supports direct cross-border settlements of multiple central bank digital currencies ( CBDC ).

Another important initiative is Project Agora, a large-scale public-private partnership that brings together several central banks and global financial giants, aiming to leverage blockchain technology to build a globally unified ledger system. These actions indicate that traditional financial forces are shifting from observation to fully embracing blockchain technology.

In contrast to the Web3 industry, which often emphasizes "Mass Adoption", many popular projects are essentially still speculative games. Whether this development direction is sustainable is worth pondering. True Mass Adoption should be based on solving real problems, lowering barriers to use, and creating lasting value.

Currently, the Web3 industry is transitioning from the "barbaric era" to the "compliance new era". Regulatory frameworks are becoming more refined, traditional financial institutions are participating in a standardized manner, infrastructure is being upgraded, and Web3 projects are beginning to embrace compliance. In this trend, the future main battleground of blockchain technology will focus on payment innovation, tokenization of real-world assets (RWA), PayFi, and the integration of DeFi and CeFi.

In the face of these changes, the Ethereum ecosystem is experiencing structural imbalance: infrastructure is continuously being stacked, but the application ecosystem is relatively lagging behind. It needs to simultaneously cope with dual competitive pressures from emerging public chains and traditional financial forces.

How to maintain market competitiveness while keeping technological innovation is a key issue that Ethereum and the entire Web3 industry need to consider. We should pursue a healthier and more sustainable direction of development, creating real value on the basis of Compliance, rather than merely staying at the speculative level.