Eleven years after stepping into the blockchain space, Ethereum co-founder Gavin Wood is still driving the vision of a decentralized internet. Speaking at the Polkadot Jam Tour in Hong Kong, Wood reaffirmed that Web3 is gaining traction, with growing adoption by financial institutions and regulators.
Through Polkadot, the blockchain network he founded, Wood is pushing Web3 beyond cryptocurrency, focusing on scalability and allowing standard software to run directly on the blockchain. He dismissed stablecoins as “less interesting” compared to the broader potential of Web3, emphasizing the importance of decentralization.
“Web3 is about building systems that do what they say on the tin,” Wood stated, stressing the need for transparency and trust in digital infrastructure. Despite regulatory restrictions in China, Asia remains a major hub for Polkadot developers, with projects like FIFA Rivals and Mandalachain shaping blockchain’s real-world applications.
With increasing institutional interest and a shifting global landscape, Wood believes Web3 is firmly on track. “I wouldn’t be in this ecosystem for 11 years if I didn’t think what we’re building is better—more reliable, robust, and resilient.”
