Municipal government in China releases blockchain white paper
[gpt3]rewrite
A municipal council in Beijing, the capital of the People’s Republic of China and the hub of technological innovation, has unveiled plans to lead the development of web3 and blockchain.
Beijing Municipal Government Releases Blockchain White Paper
According to local reports, the Beijing Municipal Science and Technology Commission, in cooperation with the Zhongguan Village Science and Technology Management Committee, unveiled the “Beijing Web 3.0 Innovation Development White Paper (2023)”.
Within the document, there was detailed information on the system analysis and preparation of web3, the system structure, domestic and foreign development status, and Beijing development status and recommendations.
The white paper recognizes blockchain as an inevitable path for the future development of the internet industry. It underlines the need for continued investment and support to realize the potential of this ground-breaking technology. Thus, the plan also contained intentions to continuously allocate significant funds to the industrial web3 ecosystem.
Starting this year, Chaoyang District will inject no less than 14.1 million dollars or 100 million yuan annually for the development of blockchain enterprises. The action plan will require the district to continue funding the project for three years, which will expire by 2025. The goal is to position Chaoyang as a national leader in web3 innovation by 2025.
The white paper also broke down the intended architecture for blockchain into four layers. They are infrastructure, interactive terminals, platform tools and applications. The infrastructure layer provides the foundation for web3 operations, and includes technologies such as artificial intelligence and blockchain networks.
The interactive terminal layer includes augmented reality terminals, holographic images and brain interface technologies that facilitate immersive sensory experiences. The platform tool layer supports the creation of actors in virtual spaces through digital content production and digital twin technologies.
Meanwhile, the application layer enables the blockchain to manifest itself in different domains, allowing users to create applications for consumer entertainment, industrial production, public services and city management.
Apple, Meta, Google are examples of technology giants that operate web3
The development of web3 is due to the rapid development of artificial intelligence, digital collectibles and digital people by technology giants such as Apple, Meta, Microsoft and Google.
Domestic players such as Inwada, character beat and Teneng would also be actively involved in shaping the industry.
Despite these bold initiatives, the White Paper acknowledges possible challenges ahead, which include technical and talent support, the integrity of the industrial chain and legal norms.
[gpt3]
