China has taken a different approach as it competes with the West to develop virtual worlds for its customers in the Metaverse. Competitors like Meta and other Western Internet giants are working on this.
Chinese government supports development technology Considering it strategic, it also enacts regulations to regulate activities that may take place in cyberspace.
China’s interpretation of the Metaverse focuses on using technology to boost the country’s growing economy rather than developing virtual environments for socializing.
One example is HiAR. HiAR uses augmented reality to help local governments in China analyze drone footage to identify mosquito breeding sites.
HiAR was founded in 2012. This was a year before Meta CEO Mark Zuckerberg popularized the term “metaverse”.
In a high-level push towards the Metaverse after Facebook changed its name to the Metaverse in 2021, Chinese companies and technology investors have followed suit, developing their own Metaverse technologies or bringing aspects of mixed reality to consumers. I tried to integrate it into a product for This came after Facebook rebranded itself as part of the effort.
The Chinese government has also shown great interest in the Metaverse by supporting the development of technologies it deems essential and developing a regulatory framework.
In an interview with Wired, Brady Wang, associate director of technology market research firm Counterpoint, said, “The metaverse is a nebulous concept.” [company] I interpret it in my own way. “
“The Chinese government is playing an important role in the development of this idea.”
China’s Central Commission for Discipline Inspection established the definition of the Metaverse in December 2021 as consisting of three components. These components were the digital twin, mixed reality, and blockchain.
However, in September 2021, authorities took steps to effectively ban cryptocurrencies. This was one of his factors that contributed to the decoupling of virtual spaces and digital assets.
The Chinese government is willing to encourage components that can help the economy, despite the fact that gaming, a key pillar of the Western metaverse, has come under criticism from the Chinese government over concerns about youth addiction.
The 14th Five-Year Plan, which outlines Beijing’s economic policy from 2021 to 2025, focuses on digital twins as a key focus area.
Additionally, an action plan announced by five ministries, including the Ministry of Industry and Information Technology, targets expanding the virtual reality industry to $51 billion, with near-eye displays and rendering processing as potential growth areas.
It is important to note that despite the fact that the business sector’s focus has shifted to generative AI, the government’s vision has not changed.
Jingshu Chen, co-founder of virtual reality (VR) business VeeR, said:
The recent buzz around artificial intelligence has not impacted how governments at various levels continue to enforce Metaverse policies.
Likewise, Meta has only recently reaffirmed its dedication to the Metaverse, putting an end to rumors that the tech giant has shifted its focus away from virtual worlds and toward artificial intelligence.
“I’d like to say up front that that’s not accurate, because there’s been talk unfolding that it’s somehow moved away from focusing on the Metaverse vision,” Zuckerberg said. I just want to say.”
The announcement comes after the company’s Metaverse division posted a loss of approximately $4 billion in the most recent quarter and a total loss of $13.7 billion in the same period last year. These losses he is expected to continue increasing in 2023.
As zuckerberg Building the metaverse is a long-term project. However, the reason remains the same and we remain committed to it. “