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

The rule of the unreal – The Metaverse, a science fiction concept depicting an interconnected virtual world, was still unreal for several years. From now on, it becomes possible for us. Powered by advances in blockchain and web 3 technologies, our contemporary world is building the foundations of a virtual universe whose potential, illustrated by numerous reportsit is no longer to argue.

The economic future for companies, institutions and even governments, the metaverse intrigues as much as it fascinates. WHEREASEurope through the voice of Emmanuel Macron evokes an institutionalized European metaverse, Dubai is already on the next level. At the cutting edge of technology, the desert city continues to follow the direction of the wind. He breathes into these citizens a new age: that of the metaverse.

A treasure of 4 billion dollars

In her statement hurrybroadcast on WAM – The official news agency that assesses the state – the government of Dubai, in its representative Crown Prince Hamdan bin Mohammed, presented its project of ” metaverse strategy “. This approach is unprecedented. Indeed, it is the first state reform which aims to create the infrastructures to – perhaps – govern a virtual space.

Also, the government encourages the development of this sector. The latter then places a political strategy which aims to boost the economy of the Web 3 sector at the local level. The main lines can be summarized in these few points mentioned in the Dubai press release:

  • Create 40,000 virtual jobs ;
  • pour in 4 billion dollars for the metaverse;
  • multiply the number by fiveblockchain companies AND metaverse (development accelerator and incubator for Web 3 startups);
  • develop metaverse use cases and applications in government;
  • PROMOTING deploying a 5G network in order to accommodate the necessary blockchain infrastructures.

Therefore, it would be that the wilderness kingdom would become one oasis for businesses and web developers 3 and lay the foundations foradopting the metaverse in place :

“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 in building safe and secure platforms for users and 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 – very open to criticism. It will change the habits of Dubai society, create new infrastructure and change the habits of fellow citizens.

Statement on “Metaverse Strategy” published by the Crown Prince of Dubai on his social networks – Source: I tweet

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The metaverse and blockchain industry already contributes 500 million dollars for the national economy of Dubai. 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 authorizations. A pioneer in adopting so-called Web 3 digital solutions, the government has even installed, in the metaverse of The Sandbox, Ministry of the Regulatory Authority of Virtual Assets (VARA). of future museum of the city also offers its own collection of NFTs in mARkETS Binance NFTs. Economic opportunities, showcase of the world of the future: Dubai wants to remain at the forefront of technology.

Beyond technological motivations, the government aims to very clearly develop a pro-metaverse policy. Purpose? Preparation for growth its future economy. The country that wants to become one of the “top 10 cities in the world in terms of the virtual economy”:

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

Forerunner of course, but not the only one. of The Metaverse seems to have taken over in recent months. Institutions and states are aware of the potential the booming Web economy 3. They want to adapt it to our society, thus defining their metaverse. The vector of freedom and an interconnected world, for some, driven by philosophy that dictates the purpose of cryptocurrencies for others, the very idea of ​​a government-backed metaverse raises questions in that it involves the return of an intermediary… and not least: the state.

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