SK Telecom's Vice President, Wu Shixian, stated at the UpBit D conference held in Seoul that since the rise of large technology companies, the gap in overall Gross Domestic Product (GDP) between the United States and Europe has continued to widen. This highlights the importance of digital transformation. The digital economy is based on information and communication technology and represents all economic value. In the next 10 years, 70% of all new value created will be based on digital platform businesses. Web3 will play a key role in the development of these businesses, enabling the digital economy through a trust-based infrastructure.