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Beijing unveils white paper to foster web3 innovation and development

Beijing has released a white paper aimed at promoting innovation and advancing the web3 industry. The "Web3 Innovation and Development White Paper (2023)" was unveiled at the Zhongguancun Forum by the Beijing Municipal Science & Technology Commission. The paper recognizes web3 technology as an "inevitable trend for future Internet industry development" and aims to establish Beijing as a global innovation hub for the digital economy. The commission plans to allocate a minimum of $14 million annually until 2025 to achieve this goal.

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