UAE forges a bright Metaverse future with new framework | CryptoTvplus

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    United Arab Emirates (UAE) hugged With the announcement of the Responsible Metaverse Self-Governance Framework initiative, the limitless potential of the Metaverse becomes clear.

    This initiative is an agreement based on a partnership with Dubai Digital Economy Taskforce (DubaiDET). DubaiDET is the abbreviation for the Department of Economy and Tourism of Dubai, United Arab Emirates.

    The Ministry of Economy and Tourism is the main authority responsible for the supervision and development of Dubai’s economy and tourism sector.

    It is responsible for the planning, supervision, development and marketing of Dubai’s business and tourism sector.

    The department is also responsible for licensing and classifying all types of businesses, including hotels, tour operators, and travel agencies.

    With this new development, DubaiDET is taking its vision into a virtual world that will serve as a means to further develop the tourism industry.

    Omar Sultan Alorama, UAE Minister of State for Digital Economy, AI and Remote Work Applications, said the launch of the Responsible Metaverse Autonomy Framework in collaboration with DubaiDET is in line with the UAE’s broader vision for the virtual Metaverse. He said it matched. A real space where people can interact, work, and engage in various activities.

    The objective of this framework is to ensure responsible and sustainable growth of the Metaverse economy. Addressing challenges and opportunities within this emerging sector.

    The minister added that Metaverse is expected to have a significant impact on various essential industries in the UAE.

    By implementing this framework, the UAE aims to proactively shape the development of the Metaverse, leveraging the vast opportunities it presents while identifying and overcoming potential hurdles.

    Prior to this, the UAE has shown strong interest in the digital economy, particularly in terms of building a useful framework for how innovation in this area works.

    Examples can be found at Metaverse Office. launched The Ministry of Finance announced this last year.

    Also carried To test the potential of digital currencies, we will launch the first CBDC pilot in partnership with China and other countries.

    Other plans for the Metaverse include: share Huda Al Hashimi, UAE Deputy Minister for Strategic Affairs, said this at the World Economic Forum last year.

    In general, this region stands out as a significant player in the global market focused on Metaverse. The new framework created will also serve as a learning tool for other countries looking to implement similar guidelines.

    Please also read this. UAE and Hong Kong central banks agree to strengthen financial cooperation


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