ChainCatcher news, the "FireNow" Asia Web3.0 Institutional Summit hosted by New Fire Technology Holdings Limited (referred to as "New Fire Technology", stock code: 1611.HK) officially opened at the Ritz-Carlton Hotel in Hong Kong. At the event, Zhang Li, Executive Director and CFO of New Fire Technology, delivered a keynote speech on the topic "Thoughts on Web3 from a User Perspective."Zhang Li analyzed on-site that the needs confirmed by Web3 users so far can be divided into three categories: 1. Payment, which addresses some cross-border/convenient/poor region payment issues; 2. Speculation/Investment: redistributing wealth with a huge technological backstory; 3. Web3 Native: mining machines, oracle, stablecoins, wallets, etc., supporting the construction of Web3 infrastructure.Zhang Li believes that Web3 does not need so many public chains, but the Crypto industry requires a wealth effect. Public chains without long-term applications are essentially MEME, which is somewhat related to the low cost of asset issuance in the Crypto industry and the lack of regulatory compliance. Zhang Li also stated that there are still many gaps in actual applications in the industry, and more Web3 applications should be encouraged through various effective means.