Saturday, November 26, 2022
HomeCryptoDubai wants to become one of the capitals of the metaverse and...

Dubai wants to become one of the capitals of the metaverse and Web3 by creating 40,000 jobs

Dubai continues to show its interest in new technologies and more specifically in the metaverse: the emirate wishes to create 40,000 new jobs in this sector and will deploy new infrastructures to develop Web3. According to the statement, this could bring $5 billion to the Dubai economy.

Dubai, future world capital of new technologies?

L’emirate of dubaiin his delusions of grandeur, plans to create 40,000 virtual jobs to become one of the top 10 metaverse economies in the world.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoumthe Crown Prince of Dubai and Chairman of the Executive Council of Dubai, unveiled on July 18 the Dubai Metaverse Strategya project that could pay off, according to the press release, $4 billion to Dubai’s economy by 2030.

True to its guideline of becoming one of the main global hubs of new technologiesthe city will focus on artificial intelligence (AI) and Web 3.0 in developing project incubators for this purpose as well as by promoting these 2 poles thanks to the content creators.

According Omar bin Sultan Al OlamaUAE Minister of State for Artificial Intelligence and Digital Economy, the metaverse will be the key to “ providing innovative solutions, positively impacting people’s lives and transforming the city into one of the smartest centers in the world, providing new economic opportunities “.

Also according to the press release, Dubai already hosts a thousand companies working in the blockchain and metaverse sectors, which contribute $500 million to the local economy.

👉 What is Web3, this decentralized version of the Internet?

Discover The Sandbox

Dive into the Metaverse 🔥

toaster icon

Investing in cryptocurrencies is risky (learn more)

A multitude of technologies put forward

The horizons covered by the Dubai Metaverse Strategy will be numerous and will notably include new models of government work. This will also affect tourism, education, retail, remote work, healthcare as well as the legal sector.

Emphasis will also be placed on the user securityin particular by developing infrastructures intended for this purpose and by creating secure platforms in order toaccelerate the adoption of these technologies in the best conditions.

The metaverse here encompasses extended reality (a mixture of the physical and virtual worlds), augmented reality, virtual reality (VR), digital twins and mixed reality. The press release also mentions themachine learning in order to go beyond the limits of human thought.

The strategy also promotes the deployment of 5G networks to develop edge computing to process data on the local network through smart devices rather than storing it in the cloud.

Recall that last May, the Dubai Digital Assets Regulatory Authority made his entry into the metaverse of The Sandbox (AND).

👉 Metaverse news: First successful trip to Otherside, Yuga Labs’ metaverse

cryptoast logo

Discover our Private Group

Content with high added value and quick to consume

toaster icon

Source: Press release

Newsletter 🍞

Get a crypto news recap every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Tags