The money is flowing into the metaverse, with the emerging sector receiving over $1.5 billion, most of it in the last quarter of the year, according to reports.
Bitcoin Association teamed up with SatoPlay to host the event which sought to equip developers with the insight and tools they need to build on the Bitcoin blockchain.
The People’s Bank of China has already met with the Beijing company to discuss proposals to trial digital yuan across its platform.
The Industry Blockchain League will draw on companies, government agencies and other organizations from across industry sectors.
WeChat owner Tencent is to invest $70 billion in emerging technologies such as blockchain and cloud computing as it seeks to bounce back from COVID-19 slowdown.
Tencent has launched its blockchain accelerator program, accepting applications from early-stage startups or big firms that have shifted to blockchain
The central government committee is to be made up of some 71 members, including senior executives from Tencent and Baidu.
Baidu has launched Xuperchain, a blockchain platform that seeks to make the development and deployment of blockchain projects in Asia fast and cost-effective.
ByteDance, the company that owns social media platform TikTok has partnered with a state-sponsored media firm on a blockchain and artificial intelligence venture.
Tencent has developed a tool that allows the Chinese government to screen financial transactions for any illegal crypto activity.
Tencent has received a new license from the Hong Kong Securities and Futures Commission to create a virtual bank powered by blockchain technology.