Interview with Tetsuya Sanada - The frenzy of Web 3.0 has passed and we are now in a period of disillusionment. The key to recovery is "economic design"

What do you think about the current state of the Web 3.0 field?

Tetsuya Sanada (hereinafter, Sanada): I don't hear as many expectations for Web 3.0 as I used to. I think we're currently in the disillusionment stage of Gartner's hype cycle. The hype cycle explains that new technologies go through "① Dawn," "② Excessive Expectations," "③ Disillusionment," then "④ Recovery" and "⑤ Stability."

During the period of excessive expectations for Web 3.0, "impurities" such as metaverses and DAOs were mixed into blockchain technology, creating a fusion of hype. I think the current disillusionment stage is when these hypes have peeled off.

I think the keywords for moving towards the recovery stage are real world and economics. The Bitcoin spot ETF has been approved by the US SEC, the Japanese government has established laws regarding crypto assets, and Web 3.0 is moving away from the decentralized dream and is strengthening its ties with the real world. In the future, I believe that not only financial services such as stable coins, but also entertainment Web 3.0 services that are linked to and backed by the real world will become mainstream. There are many benefits to Web 3.0, but I think that the biggest factor is the economic design that was not possible before Web 3.0. How to utilize this economic design will be the key to the future recovery period.