China is not completely unable to develop Web3, but its form will significantly differ from the global mainstream model: the open ecosystem driven by public chains is restricted, while enterprise-level applications supported by consortium chains and state-led digital projects may become mainstream. Individuals or enterprises wishing to participate need to focus on the underlying technology (such as privacy computing and cross-chain protocols) or B-end scenarios within a compliant framework, avoiding risks associated with cryptocurrencies and DeFi. In the long run, China may form a unique ecosystem in the "controllable Web3" field, but the integration with the global decentralized vision still holds uncertainties.
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Can China really develop web3?
China is not completely unable to develop Web3, but its form will significantly differ from the global mainstream model: the open ecosystem driven by public chains is restricted, while enterprise-level applications supported by consortium chains and state-led digital projects may become mainstream. Individuals or enterprises wishing to participate need to focus on the underlying technology (such as privacy computing and cross-chain protocols) or B-end scenarios within a compliant framework, avoiding risks associated with cryptocurrencies and DeFi. In the long run, China may form a unique ecosystem in the "controllable Web3" field, but the integration with the global decentralized vision still holds uncertainties.