The metaverse a matter of state – In Dubai, politics takes over Web 3

Controls the unreal – The metaverse, a science fiction concept describing an interconnected virtual world, was still unreal for some years. From now on it will be possible for us. Enabled by advances in blockchain and web 3 technologies, our modern world is therefore building the foundations of a virtual universe whose potential, illustrated by numerous reportsis no longer to argue.

Financial futures for companies, institutions and even governments, the metaverse intrigues as much as it fascinates. WhileEurope through the voice of Emmanuel Macron evokes an institutionalized European metaverse, Dubai is already on the next level. At the forefront of technology, the desert city thus continues to follow the direction of the wind. It breathes a new era into these citizens: the metaverse.

A tax of 4 billion dollars

In its press release, published the WAM – the official news agency that appreciates the state – the Government of Dubai, in its representative Crown Prince Hamdan bin Mohammed, presented its project of ” metaverse strategy “. This approach is unprecedented. It’s actually a first state reform which intends to create the infrastructures to – perhaps – manage a virtual space.

The government also encourages the development of this sector. The latter then establishes a political strategy aimed at boosting the economy of the Web 3 sector locally. The main lines can be summarized in these few points mentioned in Dubai’s press release:

  • cabinet 40,000 virtual jobs ;
  • invest 4 billion dollars for the metaverse;
  • multiply by five the number ofblockchain companies and metaverse (development accelerator and incubator for Web 3 startups);
  • develop metaverse use cases and applications in government;
  • advance rollout of a 5G network in order to accommodate the necessary blockchain infrastructures.

Therefore, it would be for the desert kingdom to become one oasis for companies and web developers 3 and lay the groundworkadoption of the metaverse in the country :

“Dubai Metaverse then supports the development of Web 3 technology and its applications to create new models of government work and development in vital sectors, including tourism, education, retail, remote work, health and the legal sector. The strategy also aims to develop global standards for building safe and secure platforms for users and to develop metaverse infrastructure and regulations to accelerate the adoption of these technologies. »

The metaverse then takes on a political dimension and becomes a social issue – highly criticisable. It will change the habits of Dubai society, create new infrastructure and change the habits of fellow citizens.

Statement on the “Metaverse Strategy” released by the Crown Prince of Dubai on his social network – Source: Twitter

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The metaverse and blockchain industries are already contributing 500 million dollars to Dubai’s national economy. This announced reform is only a new measure aimed at weaving a policy of conquering the metaverse.

Dubai, for example, has been very open about the licensing agreement for cryptocurrency platforms. Binance, FTX … many exchanges have received their authorization. A pioneer in the adoption of so-called Web 3 digital solutions, the government has even installed, in the metaverse of The Sandbox, Ministry of Virtual Assets Regulatory Authority (VARA). that the museum of the future of the city also offers its own collection of NFTs on the marketplace Binance NFTs. Economic opportunities, showcasing the world of the future: Dubai wants to stay at the forefront of technology.

In addition to technological motives, the government therefore intends very explicitly develop a pro-metaverse policy. The goal? Preparation for growth its future economy. The country that wants to become one of the “top 10 cities in the world in terms of virtual economy”:

“His Highness added that the adoption of new technologies will be a stepping stone in Dubai’s vision to use future technologies to create new working models in vital sectors and increase the impact of the metaverse on regional and global economies. . »

Precursors certainly, but not the only ones. that metaverse seems to have taken over in recent months. Institutions and states are aware of the potential thriving economy in Web 3. They want to adapt it to our society and thus define their own metaverse. Vector of freedom and a coherent world, for some, powered by philosophy that dictates the purpose of cryptocurrencies for others, the very idea of ​​a metaverse supported by a government raises questions, as it includes the return of an intermediary … and not least: the state.

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