Given Hong Kong’s crypto hub push, CZ found the timing of the white paper’s release by Beijing’s science and technology government body quite intriguing. Web 3.0 refers to the next-generation internet encompassing various cutting-edge technologies and research fields such as artificial intelligence, blockchains, machine learning, cryptocurrencies, metaverse, NFTs, and virtual reality. Companies involved in Web 3.0 are expected to play a leading role in shaping the future.
The “Beijing Internet 3.0 White Paper on Innovation and Development (2023)” was officially released by the Beijing Municipal Science and Technology Commission and the Zhongguancun Administrative Committee during the 2023 Zhongguancun Forum Parallel Forum, titled “Internet 3.0: Future Internet Industry Development,” organized by the Beijing Association for Science and Technology.
The white paper outlines the government’s commitment to actively supporting the development and research of Web 3.0 technologies, to establish China’s leadership in this domain. The committees involved will address challenges and provide guidelines to facilitate the growth of companies and teams in this field.
In response to this development, Binance CEO CZ took to Twitter to draw attention to the interesting timing of the Web 3.0 white paper release, which coincides with Hong Kong’s initiative to establish itself as a crypto hub. CZ’s remarks suggest that the simultaneous efforts by China and Hong Kong could potentially have significant implications for the future of the cryptocurrency and blockchain industries in the region.