Academician Zhang Ping of the Chinese Academy of Engineering suggested that the Central Bank of China issue a yuan-backed stablecoin for the national metaverse payment system.
Speaking at the World Conference on Artificial Intelligence in Shanghai, academic Zhang Ping suggested that a blockchain-based national payment system, combined with a metaverse infrastructure, would be the key to national security.
According to him, this will prevent China from becoming “the largest supplier of data, while other countries are mastering common technologies and standards.” In addition, this move will support a booming industry and will be the basis for “strengthening the alliance between government and the market.”
In August, the Chinese company Taiyi Group acquired the national instant messaging operator Huoxun to create a social platform based on it, with a focus on the development of the metaverse.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
