China will try to top in the Metaverse race: Report


The Chinese government is now looking at the Metaverse-based project investment directly, to top in this race and also fight perfectly against the data privacy concerns. 

Metaverse is a next-level augmented reality-based concept, which aims to provide a real-life experience with the help of virtual reality-based technology. This concept of Metaverse grabbed huge traction in the world among tech companies after the announcement of Facebook to rebrand its name into Meta last year. 

Recently Chinese Politicians held a meeting on the unexpected low increment in the GDP growth, which was aimed at 5.5%.

On Saturday of last week, two sessions were held among the politicians and the discussion touched on the matter of Metaverse. 

It was the first time, when Metaverse was on the radar of China, where two sets of discussions took place at the national level. This is showing clearly how much potential may exist in Metaverse, at least for the early adopters. 

According to reports of Chinese agencies, Metaverse grabbed huge traction over last year. Where Chinese tech companies like Tencent, ByteDance, NetEase, and Baidu are applying to file their trademarks related to Metaverse-based projects. 

Kong Falong, a deputy to the National People’s Congress and a party secretary of a rural credit cooperative in the southeastern Jiangxi province, shared his thoughts on Metaverse and the country’s steps in Metaverse-based investment. 

Kong said that we are thinking of establishing a national research center in the Metaverse. And also claimed that Investment in the Metaverse from the end of China will attract talents and technology advancement to make the country top in this race. 

Kong also noted that such things are evolving the many concerns like privacy and data security issues. 

“the metaverse develops, issues related to data security, information protection, and speculation may emerge, and these should be regulated appropriately.”

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