For some, the Sichuan local government program will be truly unbelievable. We’re back to talking about China – the strong and main theme of these last few days in the financial world – and we’re back to talking about it, however, for issues very close to the crypto world. The aforementioned province, once a major hub for Bitcoin mining, has apparently very serious plans for the metaverse.
In addition to becoming the hub of this sector which has now fallen into disgrace, the province of Sichuan has set up programs to bring the sector to a total value of 35 billion by 2025, this as regards only the local industry.
Important numbers that demonstrate at least one thing: many with a passion for the metaverse, even at a public level, are not yet willing to archive their commitment in this sector. But what does Sichuan Province have in mind?
From mining to the metaverse: this is how Sichuan is moving
It was once one of the best-known provinces in the Bitcoin mining world. However, after the ban for these activities in China, Sichuan decided to try to reinvent itself, and to do so it pushed on the world of the metaverse. A world that cryptocurrency enthusiasts already know through important projects such as The Sandbox or Decentraland.
A couple of days ago the province published an action plan – which will go from now to 2025 – for the construction of various industrial poles where at least 15 large companies in the sector will have to find hospitality. All with an eye to the world of the blockchain and also to the sector of interoperability between chains.
Very important ambitions – which have been quantified in the achievement of over 30 billion dollars in value in less than two years. Important sums, which signal the ambition of the project and Sichuan’s desire to remain at the center of the blockchain world after missing the Bitcoin mining train.
Ban for cryptocurrencies, watch out for the blockchain
What has been the main theme of China in recent years continues, starting with the ban on cryptocurrencies and mining: legal prohibition of everything related to cryptocurrencies as such, to then proceed with attention and development for issues relating to the blockchain, considered essential in terms of economic development of the country. And also in terms of what can be developed within it.
It is not the first time that the province of Sichuan is spending itself in this sense, although the choice to concentrate communication on the metaverse remains curious – while in reality, fortunately, much more will also be done in those parts.
The billionaire goal is certainly ambitious. But when you’re writing two-year plans on top of five-year plans, being beyond fantasy in the outcomes you want to achieve isn’t exactly new.
