China seems to be opening up to some parts of the industry. Despite its hard stance on trading and owning cryptocurrencies like Bitcoin and Ethereum, the country is pushing for the development of Web3.
During the parallel forum of the 2023 Zhongguancun Forum called Web3: Future Internet Industry Development, the Beijing Municipal Science and Technology Commission, alongside the Zhongguancun Science and Technology Park Management Committee, released a joint paper called Beijing Web3 Innovation and Development.
Web3 at the Forefront of Innovation
According to the white paper, Web3 represents a considerable breakthrough and is a technology described as an “inevitable trend in the future development of the Internet industry, and a three-dimensional space with highly immersive interactive experience and fusion of virtual and real.”
In addition, local reports claim that the US continues to lead the development of the global Web3 industry while the EU is paying attention to privacy pr
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