Shanghai, China’s most crowded city, is looking for ways to push the metaverse in public services over the next five years.
Shanghai Municipal Commission of Economy and Information Technology’s five-year development plan for the electronic information industry listed four frontiers for exploration, and one of them is the metaverse.
According to a CNBC report, Shanghai, China’s most populated city, is exploring ways to use a metaverse in public services over the next five years.
Citing a five-year development plan for the electronic information industry, released by the Shanghai Municipal Commission of Economy and Information Technology, four frontiers were noted for immediate exploration, and one of them is the metaverse.
The commission arguments the need of promoting the metaverse’s use in public services, business offices, social leisure, industrial manufacturing, production safety and electronic games. There will still be further studies needed, the commission noted and development of underlying technologies, such as sensors, real-time interactions and blockchain technology is also a prerequisite.
China has been moving fast in the space of digital assets and blockchain, skimming the playing field off what it does not benefit from to pushing that what does serve its targets. An example, China’s central bank digital currency (CBDC) is virtually good to go and be fully implemented in an international audience at the Beijing Winter Olympics in February.
Chinese interest in the metaverse is incredibly “hot”, with large technology firms Tencent, Baidu and Alibaba rapidly preparing to jump into the space. In November, over 1,000 Chinese businesses had already filed tens of thousands of trademark applications that reference the term, according to the South China Morning Post.
In March of this year, China’s State Council released its 14th five-year development plan which once again had the term “blockchain” included. The first time was 4 years ago when the government announced its 13th five-year plan to include blockchain use for tax collection and to issue electronic invoices.
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