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<h2 id="header-0">China Embraces Web3 to Challenge US Hegemony, Says Animoca Co-founder</h2><p>China sees Web3 as a tool to challenge US technological and economic dominance, according to Animoca co-founder Yat Siu. Hong Kong&#39;s adoption of cryptocurrencies and Web3 indicates broader moves in mainland China, despite its crypto ban. China released a <strong><a href="https://www.coingabbar.com/en/crypto-blogs-details/five-reasons-that-explain-why-web3-gaming-is-the-future" rel="noopener noreferrer nofollow">Web3</a></strong> white paper in May, emphasizing its importance for the future of the internet. Hong Kong&#39;s crypto developments, approved by China, send a significant message. Siu believes Web3 can shift the tech paradigm away from US dominance, reducing reliance on tech giants and the US dollar. However, China&#39;s ban on crypto activity remains in place for now.</p>

China Embraces Web3 to Challenge US Dominance in Tech and Economy

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