The director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission Yao Qian has called for a special focus on Web3, seeing it as the future of the Internet.
Yao wrote an article titled ” Web 3.0: The New Internet Generation Is Approaching”, which talks about the importance of this burgeoning technology and how the world is in transition from Web2 to Web3.
Yao predicts that Web3 will rebuild the organizational form, business model of the Internet economy, and is expected to significantly improve the existing Internet ecosystem.
The Chinese regulator believes that Web3 will effectively solve the problems of exclusivity, lack of privacy protection, and malicious algorithms in Web2 and make the Internet open and inclusive. and safer.
China still maintains a ban on digital currencies but the country is quite optimistic about the underlying technology of blockchain and now Web3 infrastructure seems to be the important big technology according to the country. This focus.