China focuses on Crypto development, brings 50,000 developers to its state-run blockchain

🌐 China strategic push into Web3 is gaining momentum! The Ministry of Science and Technology recognizes the industry's potential, emphasizing resource support, tech supervision, and international cooperation. Leading tech giants like Ant Group, Baidu, and Huawei are pivotal players, with over 50,000 developers engaged in the state-backed Chang'an Chain.

🚀 The government, embracing blockchain, fosters innovation through policies, standards, and local programs in Beijing and Shanghai. This marks a significant shift from previous crypto bans and mining crackdowns.

🤔 Yet, concerns linger around China's digital yuan. While touted as an advanced payment mechanism, it raises eyebrows due to its potential for surveillance and control. The balance between innovation and state authority continues to be a topic of debate. #Web3Wallet #ChinaTech #digitalcrypto #Blockchain #BTC!💰