Skip to content

Beijing Embraces Blockchain: A Leap Towards Web3 Leadership

Beijing's municipal government unveils an ambitious blueprint for leading web3 and blockchain development, with a vision to become a national innovation leader by 2025.

Beijing Embraces Blockchain: A Leap Towards Web3 Leadership

The beacon of technological advancement, Beijing's municipal government, is stepping up its game in the world of web3 and blockchain technologies. Local sources recently unveiled the "Beijing Web 3.0 Innovation Development White Paper (2023)," a collaborative effort between the Beijing Municipal Science and Technology Commission and the Zhongguan Village Science and Technology Management Committee.

This white paper elucidates a comprehensive analysis of web3, its system structure, development status both locally and internationally, and specific recommendations for Beijing's progress. It touts blockchain as the unalterable path for future internet industry evolution, necessitating sustained investment and support for this frontier technology.

With an ambitious agenda, the Beijing municipality announced its commitment to pour no less than 100 million yuan (roughly $14.1 million) annually into the web3 industrial ecosystem. Beginning this year, the Chaoyang District will spearhead this initiative for a three-year span until 2025, positioning it as a nationwide forerunner in web3 innovation.

The architectural vision for blockchain spans four distinct layers in this white paper: Infrastructure, Interactive Terminals, Platform Tools, and Applications. The foundational Infrastructure layer integrates cutting-edge technologies such as artificial intelligence and blockchain networks. The Interactive Terminal layer consists of extended reality terminals, holographic images, and brain interface technologies enabling immersive experiences.

The Platform Tool layer facilitates the development of entities in virtual environments through digital content creation and digital twin technologies. Lastly, the Application layer allows blockchain's broad deployment in multiple sectors, fostering applications for consumer entertainment, industrial manufacturing, government services, and urban management.

Tech behemoths like Apple, Meta, Microsoft, and Google are steering the web3 evolution, spurred by rapid advancements in artificial intelligence, digital collectibles, and digital personas. Local players such as Inwada, character beat, and Teneng will also play a significant role in shaping the industry.

Despite this audacious drive, the white paper candidly recognizes the hurdles ahead, including technical and talent support, the integrity of the industrial chain, and legal standards.