Shanghai, China’s most congested city, is exploring ways to use the metaverse in public services over the next five years.
The Shanghai Municipal Commission of Economy and Information Technology’s five-year development plan for the electronic information industry lists four frontiers for exploration, and one of them is the metaverse.
According to a report by CNBC, the paper called for promoting the use of the Metaverse in public services, business offices, social holidays, industrial manufacturing, production security and electronic games. The commission plans to encourage further study and development of underlying technologies such as sensors, real-time interactions and blockchain technology.
China’s interest in the new technology has been unwavering in recent years, and its efforts to establish a central bank digital currency (CBDC) and use of digital biometric hardware wallets for the virtual yuan have positioned it as a leader in CBDC issuance. has strengthened.
In March, China’s State Council released its Five-Year Development Plan that included several of these fronts for exploration. As reported by Cointelegraph, the term “blockchain” was first used in China’s 14th Five-Year Plan, a document that outlines the country’s economic goals for the next five years, which run from 2021 to 2025. Is.
related: Chinese companies start race for Metaverse trademark
The metaverse has become an area of interest for several major companies in recent months. In October, Facebook changed its name to Meta to bank on the popularity of the term Metaverse.
More than 1,000 Chinese businesses have filed thousands of trademark applications referencing the term, despite warnings from the People’s Bank of China on metaverse and non-fungible tokens in November. According to the South China Morning Post, more than 1,360 Chinese businesses have applied for 8,534 trademarks.
Chinese companies in the process of developing metaverse technology, including Baidu, Tencent and Alibaba, are aggressively working on related projects. Last week, Baidu debuted its XiRang Metaverse app, which will launch in full six years.
