One Web3 concept called DePIN could, if it takes off globally, promote a more equitable “sharing economy”, according to one report

At a recent Web3 festival in Hong Kong, two entities — University of Web3 (Uweb) and JDI Global — released a report on the development of DePIN: the Distributed Physical Infrastructure Network concept that  integrates blockchain technology with physical infrastructure.

In a nutshell,  DePIN is the use of blockchain technology to form decentralized network infrastructures formed by multiple stakeholders contributing physical resources — such as storage space, computing power, and network connections — and rewarding participants for their work.

According to the report, the market size for DePIN is expected to reach US$3.5tn by 2028. Other key points asserted by the authors — Uweb Principal Dr Yu Jianing, Uweb co-founder Romeo Wang and JDI Global CEO Wang Yiming, are:

    • DePIN promotes the construction of network infrastructures through token incentive mechanisms and is expected to drive innovation and growth in the Web3 space.
    • Application scenarios cover the following: distributed storage, wireless networks, content delivery networks, AI computing, and countless other aspects of technology investments
    • As a new “sharing economy model”, DePIN complements and enhances the traditional internet and IoT (Internet of Things) by providing a more stable, secure, and efficient environment for data storage, transmission, and processing. This supports various decentralized models for distributed storage systems, wireless network coverage, CDN content transmission, and emerging AI-combined applications such as GPU rendering networks and decentralized cloud platforms for generative AI large language models
    • If it reaches the mainstream, DePIN can drive social progress and sustainable economic development by inspiring global infrastructure innovation and reform, laying a foundation for a more interconnected, efficient, and equitable world.

Noting current challenges for DePIN development in terms of technological maturity, standardization, security, privacy protection, and compliance, the report asserts that industry collaboration, technical standard setting, and international dialog can lead to the concept’s uptake.