The metaverse enters China's government plans

Chinese local governments have included the metaverse for the first time in their plans for 2022, suggesting potential government approval for a new and upcoming space. The Shanghai Municipal Commission asked in a statement to "encourage the implementation of the metaverse in sectors such as public services, corporate offices, social entertainment, industrial production, production safety and electronic gaming".

Wuhan "aims to push the integration of the real economy with the technology industries related to the metaverse, big data and cloud computing," according to local reports. While Hefei, a city in eastern China's Anhui province, said it will support future industries like metaverse and superconductivity. Chinese tech giants including Alibaba and Tencent are also planning to switch to the metaverse with Baidu saying it could be six years before their metaverse is built. While in the West it is rumored that Apple is looking to enter the AR / VR market which could bring new revenue beyond their iPhone lines. In this context, the blockchain is a crucial part of the larger metaverse as it is how onboarding is done through a cryptographic address, with things like Decentraland giving a potential preview. In China, a hostile regulatory regime against cryptocurrencies and cryptographic innovation means that the blockchain is becoming something of a caricature.

"Tencent's 'Magic Core' NFT collector's trading app has attracted the attention of collectors (although NFTs currently sold cannot be exchanged and are not transferable as gifts)," says Jing Daily. Xinhua has released around 11 'NFTs' which apparently are more 'digital collectibles' that cannot be transferred and therefore have no actual token operating on a public blockchain, and therefore are in fact really alone in this case. a jpeg. This conservative approach to ambitious new innovations in art and technology through NFTs is due to an anti-innovation agenda on the part of Xi Jinping's administration. In a letter published today, Xi spoke of "Continually strengthening, optimizing and expanding China's digital economy", but, in typically dense bureaucratic language, Xi said that "compared to other digital economies, China's digital economy is large. but not strong, fast but not excellent ". "The digital economy is a strategic choice to seize the new opportunities of the new cycle of technological revolution and industrial transformation. The healthy development of the digital economy favors the promotion and construction of a new development model, the construction of a modern economic system and the construction of new national competitive advantages ". But then Xi points out that in the digital economy "there are also some unhealthy and irregular signs and trends".

by Alessandro Crea Wednesday 19 January 2022 14:00