> For the complete documentation index, see [llms.txt](https://metatimecontract-protocol.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://metatimecontract-protocol.gitbook.io/whitepaper/origin-and-development.md).
# Origin and Development
Due to the global epidemic and the onset of local wars and conflicts, the global economy took a downfall, especially after the Russian-Ukrainian war, where most western countries launched a series of sanctions against Russia, and Russia was expelled from the SWIFT system, while also freezing Russia's foreign exchange reserves, and Russian properties.
In this long economic night, technological elites and advocates used web3.0 and blockchain technology to solve the current economic dilemma.
Metaverse is the representative of Web3.0, that bridges the gaps in the Internet. In the web2.0 era, major platforms controlled the social data flow, they continuously make profits through product ads or services that monetize the social data, with nothing or little benefit to the data owner.
Skolkovo Lab's goal is to be the leader of the Web3.0 era of the Metaverse, and aims to continue exploring the basic algorithms for value-based social networks, to accelerate the advancement of Web3.0.
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