China's Sichuan province will take part in the "metaverse race"
Date: 2023-08-20 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
The Sichuan provincial government will build industrial parks to support firms associated with the metaverse. Local authorities presented a detailed plan for the development of the industry until 2025. The market is expected to reach 250 billion yuan ($34.4 billion) by then.
In the near future, several specialized parks will open in the province. The Sichuan government said it will work to optimize the blockchain infrastructure, strengthen privacy protections, and develop cross-chain control. The authorities will support more than 15 organizations working to create and improve the metaverses.
According to the presented plan, one of the key areas of work will be the creation of effective rules regarding the protection of personal information and security in the virtual world.
In May 2023, the Chinese city of Nanjing launched a government-backed metaverse. In June, China's Ministry of Industry and Information Technology introduced the country's national blockchain standard.
