China Establishes Industry Standard for Web3 and NFTs!

author: Mustafa Mullah

Mustafa has been writing about blockchain and cryptocurrencies for several years. He has previous trading experience and has been working in the fintech industry since 2017.

December 20, 2023 11:06

China’s Ministry of Industry and Information Technology has announced its intention to create new industry standards for Web3 and Non-Fungible Tokens (NFTs). This move signals China’s growing participation in the blockchain industry as the country continues to explore the potential of this emerging technology. The exact details of these standards have not been made public, but they are expected to provide guidance in areas such as security, privacy, and interoperability. The announcement comes at a time when Web3 and NFTs are gaining global attention, with many seeing them as key components of the future of the internet.