Web3 will be key to the future of China's internet, says security regulator

China's security regulatory body demands the research and development of Web3 infrastructure, calling it a 'three-dimensional holographic internet.'

The director of the Science and Technology Supervision Bureau of China’s Securities Regulatory Commission Yao Qian has called for a special focus on Web3, deeming it to be the future of the internet.talking about the significance of the evolving tech and how the world is at a crucial transition from Web2 to Web3.

The article talked about the significance of forward-looking research and strategic infrastructure development.

It is also important to note that China is not necessarily a big believer in decentralization or distribution of power. This is evident from their central bank digital currency development program, which is a blockchain-based digital currency, but the tech is highly centralized with the central government controlling every aspect of it.

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