Web3 White Paper from Beijing: A Revolutionary Impact on Innovation and Industrial Progression.

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Tech News Summary:

  • Beijing Municipal Science and Technology Commission has released a white paper called “Web3 Development and Innovation White Paper” to promote the growth of the Web3 industry. The Commission aims to allocate at least CNY100m ($14m) annually until 2025 to support policy enhancement and technological advancement in the industry.
  • China has shown signs of opening up to the cryptocurrency industry since a cryptocurrency segment aired on China Central Television on May 23. The segment highlighted NFTs and featured the Bitcoin logo and ATM in Hong Kong.
  • Hong Kong Police recently launched CyberDefender, a metaverse platform aimed at educating citizens about potential dangers associated with Web3 technology crime. This platform was developed by Cyber Security and Technology Crime Bureau (CSTCB) to prepare citizens for future challenges in the digital age.

Beijing has recently published its ‘Web3 White Paper,’ which outlines the city’s plan to become a world leader in blockchain and other emerging technologies. The paper sets out a bold vision for the future of the city, including the development of a ‘Web3’ ecosystem that will empower entrepreneurs and innovators to create groundbreaking new products and services.

According to the white paper, Beijing plans to leverage blockchain and other Web3 technologies to create a more efficient and secure digital infrastructure. The city will also invest in research and development in areas such as artificial intelligence, 5G networks, and the Internet of Things (IoT), which will further bolster its position as a global technology hub.

The publication of the Web3 White Paper marks a significant milestone for Beijing and the broader blockchain and Web3 communities. The paper provides a clear roadmap for how the city will support the development of these emerging technologies, driving innovation and industry advancement in the process.

The paper also highlights the important role that government and private enterprise must play in supporting the growth of the Web3 ecosystem. It calls for greater collaboration between businesses, universities, and other stakeholders to foster a more robust innovation ecosystem in the city.

In response to the publication of the white paper, industry experts have praised Beijing for its forward-thinking approach to the development of blockchain and other emerging technologies. Many believe that the city’s efforts will play a critical role in shaping the future of Web3.

Overall, the Web3 White Paper represents a significant step forward for Beijing and the broader blockchain community. With its ambitious goals and clear roadmap, it is clear that the city is serious about establishing itself as a leader in the development of emerging technologies. This is undoubtedly good news for entrepreneurs, investors, and anyone else interested in the potential of Web3 to transform our world.

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