|

Crypto News

China Initiates Metaverse Standardization Group for Yuanverse Development

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Category

Crypto News

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

china metaverse

Join our growing community


Formation of the Metaverse Standardization Working Group in China

The Chinese government has taken a significant step in digital innovation by announcing the creation of a Metaverse Standardization Working Group. This initiative aims to establish a comprehensive set of rules to govern the Chinese Yuanverse platform, a national metaverse platform. The Ministry of Industry and Information Technology of China (MIIT) released a circular on January 19 detailing the formation of this group. The standardization group will include a diverse mix of participants, comprising Chinese universities, government institutions, and prominent companies such as Tencent, Huawei, Baidu, Netease, and Sense Time. The group’s formation is a response to industrial development and industry management needs, with feedback for the group’s publicity plan expected by February 18.

China’s Strategic Focus on Metaverse and Web3 Technologies

Establishing the Metaverse Standardization Working Group is part of China’s broader strategy to embrace and lead in emerging technologies like blockchain and metaverse. This move follows the announcement of a new Web3 strategy for the country, showcasing China’s commitment to exploring and potentially implementing use cases for these advanced technologies. Despite a global shift in focus towards artificial intelligence (AI), China remains dedicated to becoming a leader in the metaverse field. In September, four ministries and the MIIT unveiled a three-year plan to foster the development and growth of metaverse initiatives within the country. This comprehensive plan anticipates significant breakthroughs by 2025 across various applications, including metaverse technology, industry, and use cases.

Anticipated Impact on China’s Metaverse Industry

Experts anticipate that this concentrated effort and investment by the Chinese government will catalyze the development of the metaverse industry in China. Reports suggest that these movements will position China as a global hub for metaverse innovation, potentially surpassing developments in Western countries. The government’s proactive approach and the involvement of leading technology companies signal China’s ambition not only to participate but also to shape the future of the metaverse landscape.