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UK’s New Technology Department to Tackle Country’s Metaverse, Web3 Strategy

The UK's newly formed Department of Science, Innovation and Technology will advance the country's metaverse and Web3 strategy, an individual familiar with the matter not authorized to speak publicly told CoinDesk. The Country's 2023 Spring Budget, released in March states that the government wanted to "lead on the future of web technology, sometimes known as Web3 or the metaverse." The department's work will not be focused upon specific technologies like blockchain and virtual reality but will instead look at potential economic growth opportunities, investment and business models.


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