The city of neon lights, crowded markets, and the unique pairing of East meets West. Soho – it’s always been a place where innovation blooms, where empires of art and culture and commerce are created and at breathtaking speed, destroyed. Today, it’s emerging as a new hub for Web3, our world’s next potential digital renaissance. Combined with the newly re-energized BNB Chain’s MVB program and the Hong Kong Super Meetup, the energy is electric. CZ, Vitalik, Justin Sun – they all attended. Amidst the buzz, a crucial question lingers: are we truly building a decentralized future for everyone, or just a select few?

Are We Really Democratizing Finance?

DeFi. Decentralized Finance. The promise is right there in the name: democratizing finance, giving access to capital and financial tools to those who have been traditionally excluded. Let's be real. How many people in the underserved communities truly know or have access to information on yield farming or liquidity pools even? How many even have reliable internet access, let alone the disposable income to risk on volatile crypto assets?

I see the potential, I really do. Picture the single mother in rural India able to trust a DeFi platform to provide her with micro-loans to start or expand a small business. Consider refugees cashing in on stablecoins to protect their wealth when forced to flee by political corruption. That’s the kind of story that ought to be inspiring and leading us.

The reality is often far different. Instead, we’re writing intricate protocols, laced with nonsensical terminology and technicalities that would leave even the brightest Mint ohnine scholar perplexed. The result is that we’re applauding million-dollar hacks and rug pulls, without any real consideration for their devastating effect on vulnerable end-users. We need to shift our focus. We have to create user-friendly interfaces, include multilingual community outreach and engagement, and lead with education.

Think of it this way: Web3 is like the internet in the early 90s. A truly powerful tool, but mostly inaccessible to anybody who doesn’t have a computer science degree. We need to bridge that gap. We have to get the UX of Web3 to the level of where using a smartphone app is effortless.

Beyond Memecoins, Real World Utility?

CZ was right to warn people against chasing memecoins. While they can be fun (and occasionally profitable), they ultimately distract from the core mission of Web3: to build real-world utility and solve real-world problems. BNB Chain’s new focus on AI, DeSci, and DeFi is thrilling. Let’s ensure these new developments work for the many, instead of the few toiling in tech incubators.

Every time, I inevitably end up comparing how the internet first looked to what we’re currently experiencing with Web3. Remember the dot-com boom? So much hype, so much speculation and so many companies that crashed and burned. From the ashes emerged the giants we know today: Google, Amazon, Facebook. They succeeded because they solved real problems. They made knowledge of the world accessible, they made shopping accessible, they made it possible to have a quasi-constant connection to friends and family.

Web3 needs to follow that same path. We need to focus on building applications that address pressing issues like financial inclusion, supply chain transparency, and data privacy. We still have to use the opportunity that the power of blockchain presents to advance a more equitable and sustainable world.

Digital Divide or Digital Equity?

The Hong Kong Super Meetup highlighted the growing interest from governments in blockchain solutions for digital identity and visa applications. Whatever the reason, we think that’s a great sign! It makes me anxious about how governments around the world will use these dangerous technologies to surveil, control, and oppress their citizens.

We have to push for large-scale policies that advance digital equity and defend the most vulnerable users from abuse. This approach allows for the innovation of autonomous technology without hampering it with prescriptive regulations. Rather, it provides a model for fostering thoughtful, ethical development while protecting against exploitation.

The digital divide isn't just about access to technology. It's about access to knowledge, skills, and opportunities. It’s time to fund education and awareness building programs. Together, these initiatives will engage, inspire, and equip individuals from all walks of life to step into the Web3 ecosystem. We must ensure we develop new mentorship programs, targeted coding bootcamps and online resources that are available and affordable across the board.

Leaders from BNB Chain, Ethereum, Tron and Solana also attended the Hong Kong events. Their appearance speaks volumes to the commitment and desire to collaborate that exists in this industry. Microsoft We need more than the tech elite’s voices to shape AI’s evolution. Let’s get communities, educators, and policymakers in this conversation with us. Together, we can ensure that the next iteration of our internet lives up to the ideals of decentralization, inclusivity, and equity that Web3 professes.

The Hong Kong moment is here. The stage is set. Let's not squander this opportunity. Let's build a future where everyone, regardless of their background or location, can benefit from the transformative power of Web3. And the only way we’ll do that is by building for all of us.