- September 30, 2022
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The Metaverse, which means Beyond the Universe, is a term used in the blockchain industry to describe an imaginary world brought to reality with fiber-optics technology. The Metaverse is available to anyone anywhere in the world, so it is not limited to time or location.
The idea of a metaverse world became interesting during the COVID pandemic when people could no longer go out and perform their usual activities. Online activities became a norm and virtual awareness multiplied during the lockdown.
After the lockdown, institutions (private and public), including governments and individuals, started exploring virtual environments for meetings and other activities. People realized how easily maintained and convenient it could be to work, shop, hold seminars, study, and do anything online.
This awareness created an opportunity for blockchain industries and start-ups to dive in and explore the metaphase world.
UAE’s Ministry Of Economy Metaverse Headquarters
Governments in developed countries are increasingly pushing into the Metaverse world. For example, the Ministry of Economy of the United Arab Emirates recently announced a new headquarters located in a virtual world. This Ministry needs a readily accessible location to anyone anywhere, so it created the virtual Headquarters.
Gulf News reported the UAE Minister of Economy, Abdulla bin Touch, shared the news at the Dubai Metaverse Assembly on September 28. The minister said it is the Ministry’s third address, not a proof-of-concept, and gave a live tour of the virtual headquarters.
The announcement came after the UAE launched a Dubai Metaverse Strategy on July 18. The Metaverse Strategy aims to create over 40,000 virtual jobs by 2030.
The virtual headquarters features a multiple-story building. Each story serves a different purpose. For example, according to the minister, visitors need tickets to enter the building, so a customer service officer is required.
The customer service officer would join the Metaverse office and interact with visitors.
UAE Ministry Of Economy To Incorporate Digital Services In Operations
The UAE Ministry of Economy already has two physical offices in Abu Dhabi and Dubai. The virtual office would enable the Ministry of Economy to incorporate digital services into its operations as pa directives from the UAE government.
During legal deals and agreements, signatories must visit the physical office to provide their signatures. The virtual office would eliminate this problem since visitors can sign legally binding documents at the virtual headquarters.
Cryptocurrency market remains strong | Source: Crypto Total Market Cap on TradingView.com
The headquarters has meeting rooms equipped with screens and an auditorium for Virtual conferences. The UAE government’s Metaverse Strategy aligns with its vision to grow the blockchain industry and multiply the number of existing blockchain companies five times. In addition, it goes with the government’s objective to invest in new technologies.
The ruler of the Emirate, Sheikh Mohammed bin Rashid Al Maktoum plans to make the UAE a global tech capital. His focus is on web3 and artificial intelligence.
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