Analysis of Beijing Internet 3.0 White Paper (with full text): Distinguishing from Web3, Focusing on Artificial Intelligence and Metaverse

Analysis of Beijing's Internet 3.0 White Paper: Focus on Artificial Intelligence and Metaverse, Different from Web3

Blockchain, as the underlying technology of the Internet 3.0, can solve the problem of trust, data structuring, and value circulation after structuring data, etc. It constantly generates new industries, new formats, and new patterns, and will be an important cornerstone for the construction of the Internet 3.0 economic system.

Wu learned that the Beijing Science Association and the Zhongguancun Management Committee recently released the full text of the Internet 3.0 white paper. The white paper was extensively discussed due to the promotion by Binance founder Zhao Changpeng and extended to the favorable news of the cryptocurrency industry. However, Xu Mingxing, the founder of OKX, said that the government always confuses cryptocurrencies, blockchains, and Web3. So what is the content of the full text of the white paper?

The white paper states:

The Web3 concept has been popular abroad for many years. Its core key technologies include blockchain, non-homogeneous tokens, privacy enhancement technology, distributed autonomous organizations, social computing power networks, on-chain data analysis, content security, etc. In April 2014, Ethereum’s co-founder Gavin Wood first systematically elaborated on the concept of Web3, believing that Web3 is a set of inclusive protocols that provide basic modules for application developers and enable them to build applications in new ways. On March 11, 2021, at an auction of Christie’s, the NFT artwork “Everydays: The First 5000 Days” by digital visual artist Beeple was sold for 69.35 million US dollars (about 450 million yuan), which ignited the NFT concept outside the circle, and at the same time, made the Web3 concept popular in the industry.

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The article then distinguishes Web3 from the Internet 3.0, and a small part related to the blockchain points out:

This article believes that Internet 3.0 is a three-dimensional space with high immersive interactive experience, integrating reality and virtuality, which will greatly enhance the interaction experience between people and information and the efficiency of economic activities. High intelligence and virtual-real integration development will be its main features. The Internet 3.0 category includes high immersive sensory experience and virtual-real integrated economic activity experience, covering the connotations of the metaverse and Web3. Its concept embodies the development trend of human society and economic form from reality to virtual, from virtual to real, and virtual-real integration. In the future, Internet 3.0 will fully absorb the results of the information revolution, Internet revolution, artificial intelligence revolution, VR/AR and other technological revolution, become the culmination of modern science and technology, and lead the development of the future Internet industry. With the development and maturity of technology, Internet 3.0 will inevitably give birth to new applications and new formats in fields such as consumption, industry, government affairs, urban management, medical health, etc., promoting the realization of a higher level of digital and intelligent economic and social forms for human beings.

The following content mainly concerns artificial intelligence and the metaverse, mentioning:

Decentraland, a virtual reality game platform where players can create, experience, and profit from content and applications in the form of 3D virtual avatars. Players can also purchase virtual real estate on the platform. Currently, Decentraland has become the world’s largest metaverse virtual real estate sales platform. Virtual sneaker brand RTFKT Studios collaborated with 18-year-old crypto artist Fewocious to release 621 pairs of virtual sports shoes. The shoes sold out in just 7 minutes, generating nearly $3.1 million in sales.

Blockchain technology is a new distributed computing paradigm that uses encrypted chain block structures to verify and store data, uses distributed node consensus algorithms to generate and update data, and uses smart contracts to program and operate data. As the underlying technology of the Internet 3.0, blockchain can solve the problem of trust, data structuring, and value circulation after structuring. It continuously fosters new industries, new formats, and new models, and will be an important cornerstone of the construction of the Internet 3.0 economic system.

Overall, the core architecture of the blockchain has gradually stabilized and matured, and has begun to enter a new stage of deepening data element trust and collaboration, and multi-level technology integration and innovation. Ethereum, Hyperledger, and other blockchain frameworks have formed a globally robust application innovation ecosystem in finance, traceability, trade, and other fields. In recent years, Beijing has supported the Beijing Microchip Blockchain and Edge Computing Research Institute to release the first domestically controlled blockchain software and hardware technology system “Changan Chain · ChainMaker”, which has prominent features of full autonomy, high performance, strong privacy, and extensive collaboration.

Benefiting from the rapid development of AI, blockchain, and graphics processing technologies, the user experience level and production efficiency of virtual digital humans, virtual live broadcasts, game production, and other applications have significantly improved and are expected to become the first profitable application areas in the future. The overseas NFT market is growing rapidly. By the end of 2022, the total assets of the global NFT content creation market had reached US$104.2 billion, and the global NFT transaction volume had achieved a year-on-year increase of 83.16%, reaching US$55.5 billion. China started relatively late in the field of digital collections, but companies are eager to explore NFT businesses. Shanghai and other cities have proposed to support leading enterprises in exploring NFT trading platform construction and promote the digitalization of NFT and other assets.

Original text: Beijing Internet 3.0 Innovation and Development White Paper

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