"
🧩 1. The current state of Web3: liquidity addiction
Over most of the past decade, liquidity has dominated the cryptocurrency market:
Trading volume on trading platforms
Decentralized finance (DeFi) yields
Token listing
Speculation (sharp price fluctuations)
This creates clarity and capital flows, but it also creates a fragile system: limited adoption, tied to speculative cycles instead of real value.
🔎 Insights: Liquidity attracts attention, but it does not build trust or utility. This sector risks turning into a casino, not an economy.
⚡ 2. Turning Point: Utility as the Next Web3 Horizon
Dr. Fan's vision is the transition from traded tokens to used tokens.
Utility = Actual adoption:
Payment systems used by people daily
Decentralized applications solving real problems (finance, healthcare, governance, education)
Blockchain technology as an invisible infrastructure, not just a buzzword
Liquidity is a short-term energy, while utility is a long-term attraction.
🔎 Insight: Web3 will not achieve widespread adoption until people use blockchain technology without realizing it.
🌍 3. Why is the TOKEN2049 conference a critical battleground?
The TOKEN2049 conference is not just an event in the cryptocurrency world; it serves as a strong push for global capital and developers.
By framing this discussion under the title "Liquidity vs. Utility", Dr. Fan essentially questions:
Do we want to continue chasing speculative liquidity bubbles?
Are we ready to design a Web3 economy that serves humanity?
🔎 Insight: The prevailing narratives around TOKEN2049 are likely to dominate investment flows during the period 2026-2030.
🛠️ 4. Roadmap Focused on Utility
Dr. Fan's approach can be summarized in a three-phase roadmap:
Establishing liquidity (2017-2023)
Exchanges, decentralized finance, non-fungible tokens = Initial liquidity experiences
Market speculation as a user-centric trend
Shift towards utility (2024-2027)
Payments, decentralized identity, coordination on the blockchain
