The City of Beijing's Internet 3.0 Innovation Development White Paper

 

The City of Beijing's Internet 3.0 Innovation Development White Paper does not indicate China's embrace of cryptocurrency but instead focuses on the metaverse evolving beyond entertainment to become a prominent aspect of daily life and business.  The paper highlights the integration of virtual and real worlds with digital twins as a key requirement for the metaverse's development. Open authoring tools and standards are identified as crucial for empowering creators in the metaverse. The vision presented in the paper envisions economic activities, such as production, distribution, exchange, and consumption, being interconnected with real-world economic activities. The technical architecture necessary for this vision includes artificial intelligence, blockchain, special computing chips, and communication networks like 5G and 6G. The paper mentions brain-computer interfaces as a potential technology for interaction in the metaverse, raising privacy concerns. The State-owned China Academy for Information and Communications Technology (CAICT) reported in the "2022 Blockchain Whitepaper" that mainland China is home to over 1,400 companies developing blockchain solutions.