Original Author: Eric, Foresight News
2025 was considered a landmark year for Web3 practitioners to enter the main agenda of the World Economic Forum (WEF) on a large scale for the first time. "Crypto at a Crossroads" appeared in the main agenda for the first time, discussing whether cryptocurrencies have entered the mainstream era. One year later, with the entry of Western financial giants, Web3 has evolved from last year's crossroads to truly becoming mainstream.
At this year's World Economic Forum main venue, tokenization and stablecoins became two important topics. Binance founder Changpeng Zhao (CZ) was also invited to participate in a discussion titled "New Era for Finance." Unlike speaking freely on CT (Crypto Twitter), the remarks of Web3 representatives on such a large occasion were noticeably more restrained, but they still did not hide the ambition that "Web3 will change the world."
So, at the 2026 Davos Annual Meeting, where Crypto was recognized as mainstream by traditional finance with a scale of trillions of dollars, what exactly did the big shots say?
Changpeng Zhao: "If Banks Don't Change, We Will Change Banks"
The last time a well-known entrepreneur criticized banks at a large economic and financial conference may date back to the 2020 Bund Financial Summit.
Changpeng Zhao (CZ) participated in the main venue roundtable titled "New Era for Finance" at this Davos Annual Meeting and also gave interviews to media outlets including CNBC. Overall, CZ's viewpoint was not to "replace banks" but rather that banks should embrace blockchain infrastructure, as the two are complementary. His main points include:
- The reserve system of banks is the root cause of liquidity crises, making it difficult to handle billion-dollar-level withdrawals in a short time without issues, unlike Binance. The 100% reserve model of cryptocurrency exchanges is safer and more reliable. Traditional banks have their value but should embrace blockchain as their infrastructure to improve efficiency and reduce costs;
- CZ is currently discussing national asset tokenization with governments of more than a dozen countries (such as Pakistan, Malaysia, Kyrgyzstan, etc.), including infrastructure, real estate, commodities, and government bonds. Tokenization can avoid debt issues and improve liquidity, attracting a broader range of investors;
- Bitcoin's 4-year cycle will be broken, and 2026 will be Bitcoin's "super cycle." Meme tokens are similar to previous NFTs and the metaverse, being highly risky and speculative. Meme tokens with cultural value may exist long-term, but most meme tokens will disappear;
- Traditional payments are merging with crypto payments, but risk awareness is necessary. AI Agents will use cryptocurrencies as a native payment method. In the future, AI will rely on blockchain for real-time, reliable payments, and cryptocurrencies will become the "fuel" for the AI economy;
- The crypto industry needs to focus on risk management and regulatory reality, rather than blind optimism, balancing innovation and compliance.
In addition to these points, CZ also revealed details such as his mindset during his previous imprisonment in an interview with CNBC and mentioned on X that more details would be disclosed in his new book to be published in late February or early March.
Coinbase Founder Debates with French Central Bank Governor
In a discussion titled "Is Tokenization the Future," Coinbase founder Brian Armstrong repeatedly interrupted French Central Bank Governor François Villeroy de Galhau and refuted his views on Bitcoin and stablecoin yields.
François Villeroy de Galhau expressed the following views:
- Strongly opposes private companies paying interest to holders of their issued stablecoins, believing this threatens monetary sovereignty and financial stability;
- Emphasizes that trust in currency must come from public institutions (central banks) with democratic mandates, not private issuers;
- Criticizes stablecoins and Bitcoin as private currencies that could lead to systemic risks, promoting the digital euro as a tool to maintain sovereignty;
- Warns that without improving financial literacy, tokenization could become a "disaster."
Brian Armstrong's "counterarguments" included:
- Arguing that Bitcoin has no issuer, and its decentralized nature makes it more independent and anti-inflationary than traditional currencies;
- Asserting that users have the right to earn yields from stablecoins and that allowing stablecoin interest is part of a country's competitiveness;
- Emphasizing that Bitcoin and central banks should be in "healthy competition," with public choice becoming the strongest accountability mechanism for fiscal deficits and pushing central banks to be more responsible;
- Refuting that stablecoins are fully backed by reserves, unlike bank deposits;
- Tokenization can solve financial efficiency issues, achieve real-time settlement, reduce costs, and "democratize investment access," providing investment channels for 4 billion adults without access to brokerage services, and predicting significant progress in this technology in 2026.
In addition to this highly anticipated clash between "old finance" and "new finance," Brian Armstrong also mentioned in interviews or other occasions that during the meeting, a senior executive from a global top-ten bank told him that cryptocurrencies have now become the bank's "top priority," even seen as a "matter of survival." Armstrong stated that many financial leaders he met at the conference were not only open to cryptocurrencies but were actively seeking ways to enter the market.
Furthermore, Armstrong mentioned that although AI has diverted some attention from cryptocurrencies, the two are closely connected, and in the future, AI will likely use stablecoins by default instead of the existing banking payment system for payments.
In addition to the two main figures, many other well-known figures in the Web3 industry attended the meeting and expressed their views. Ripple CEO Brad Garlinghouse stated that the role of cryptocurrencies has shifted from a "threat" to economic infrastructure, believing that stablecoins will become a global payment bridge but need to protect monetary sovereignty. Brad Garlinghouse did not express the view that crypto payments would "replace" traditional payments but consistently emphasized that Ripple is building a bridge between the two.
Web3 Industry Representatives Sign the "Davos Declaration 2026"
During the side event "Davos Web3 Roundtable" at the Davos Annual Meeting, dozens of Web3 industry leaders, investors, and policymakers, including Animoca Brands co-founder Yat Siu, Unstoppable Domains executive Sandy Carter, and 0G Foundation representative Jonathan Chang, signed the "Davos Declaration 2026."
The declaration emphasizes that when embracing powerful technologies like blockchain and AI, the following principles must be adhered to ensure that technology serves human well-being:
- Inclusivity: Enable more people (especially in developing countries and marginalized groups) to benefit from Web3 technology.
- Decentralization: Uphold the core value of Web3 and avoid concentration of power.
- Sustainability: Promote environmentally friendly and long-term viable innovation.
- Accountability and Trust: Emphasize compliance, transparency, and responsible development.
- Long-Term Value Creation: Shift from "hype" to practicality, regulatory friendliness, and institutional-grade infrastructure.
Traditional Finance's View on Web3
In addition to some criticisms of Web3 by the French Central Bank Governor, the meeting also saw recognition of Web3 by financial giants.
BlackRock CEO Larry Fink believes that tokenization is the future of the financial system, and the entire financial system should migrate to "a common blockchain" (Garrett Jin stated that this blockchain refers to Ethereum) as soon as possible to achieve seamless asset transfers. Tokenization will solve liquidity issues, reduce costs, and make asset transfers between money market funds more efficient. Crypto and tokenization have become themes driving the market, and BlackRock views them as institutional-grade infrastructure.
Standard Chartered Bank Group CEO Bill Winters stated that tokenization and stablecoins will bring progress in global financial delivery, including reducing transaction costs and improving cross-border payment efficiency. The integration of traditional banking and blockchain has become a reality, and stablecoins have become the first truly universal blockchain use case.
Other traditional financial giants participating in the main venue roundtable mostly expressed recognition of tokenization, digital assets, and programmable currency in reshaping financial capabilities but also believed that banks should collaborate with blockchain rather than oppose it.
