Chinese province to allocate $28.7 billion for the development of metaverses

Zhejiang Provincial Authorities Unveil $28.7 Billion Metaverse Development Plan Chinese Zhejiang province authorities have unveiled a development plan that aims to create the center of the metaverse. The region will allocate $ 28.7 billion to create a metaverse industry and an ecosystem of several companies. South China Morning Post writes about it. Zhejiang Province is about to become one of the largest centers of the metaverse in the country. The plan to integrate companies into the metaverse calls for a $28.7 billion industry by 2025. The document describes the actions that will be required to achieve this goal, starting in 2023. One of them includes an incubation of 10 industry leaders and 50 companies involved in several key technologies related to the metaverse, such as artificial intelligence, VR and blockchain.. Technology will be applied to multiple processes to integrate companies involved in product manufacturing, industrial design, medicine, and even government. Metaverse applications will be used in activities such as industrial product design and development, surgical practice, and government services. Zhejiang is not the only Chinese province to have plans to work on the metaverse. Since last year, authorities in several major cities, including Shanghai, Hangzhou and Wuhan, have unveiled similar plans.. However, the Chinese authorities are afraid of undermining the regime due to the development of metaverses.. However, this does not prevent China from developing the digital yuan (CBDC), presented during the Winter Olympics – 2022. At the moment, more than 20 cities in the Middle Kingdom are participating in the pilot program. The latest to join it in April this year were 11 cities across the country. At the same time, in the five months of 2022, the total number of transactions made this year with the digital yuan reached 264 million worth 83 billion yuan (about $12.33 billion). Disclaimer All information contained on our website is published on the principles of good faith and objectivity and for informational purposes only. The reader is solely responsible for any actions taken by him on the basis of information received on our website.