Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, approved the new phase of the Dubai Metaverse Strategy that intends to boost the digital economy and introduce measures to empower the use of the metaverse and future technology.
The new phase of the strategy was approved at the first meeting of the Higher Committee of Future Technology Development and Digital Economy on Thursday, Dubai Government Media Office said.
Sheikh Hamdan said Dubai was set to become one of the world’s top digital economies and a leading platform for innovations that can shape the future.
The metaverse is the emerging space where people, represented by avatars or three-dimensional representations, can interact in virtual worlds. It is part of Web3, the next evolutionary step of the internet, with blockchain, decentralisation, openness and greater user utility among its core components.
Dubai and other emirates have taken a number of steps to integrate the metaverse into the UAE's economy and society. In July, the emirate's government unveiled the Dubai Metaverse Strategy, which aims to create 40,000 virtual jobs and add $4 billion to the emirate's economy over the next five years.
In May, Dubai's Virtual Assets Regulatory Authority established its Metaverse HQ, making it the first regulator to have a presence there.
Sheikh Hamdan approved four key strategies aimed at using metaverse technology to provide government services and a comprehensive study aimed at identifying the social benefits of introducing metaverse services that will be submitted to the executive council for approval.
The initiatives aim to build the skills of Emiratis and create a large metaverse community in Dubai that includes metaverse companies, start-ups, investors and users. They also include strategic projects featuring partnerships with private sector players and events aimed at making the emirate a hub for regional and global metaverse-related events.
During the meeting, the committee also discussed plans to implement the Dubai Metaverse Strategy and the 100-day plan to co-ordinate the work of government entities and facilitate their contributions to the development of the digital economy.
Through the committee, the government seeks to develop a new model for the development of technology and futuristic sciences with a special focus on digital technologies. It aims to keep metaverse as part of its broader strategy to promote digital growth and innovation, and achieve the goals of the Dubai Metaverse Strategy, Sheikh Hamdan said.
Dubai is moving fast towards achieving its metaverse goals.
Earlier this month, the Dubai Chamber of Digital Economy — one of three chambers operating under the umbrella of Dubai Chambers — said it had received 153 applications from 27 countries for its newly launched “Future of the digital economy: business in the metaverse” academy.
Announced last month in collaboration with Dubai-based SEE Institute, the specialised training programme is designed to equip digital start-ups with the practical knowledge and tools they need to build and thrive in the metaverse.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
UAE currency: the story behind the money in your pockets
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
Read more about the coronavirus
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
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MORE ON INTERNATIONAL JUSTICE
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Killing of Qassem Suleimani
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Killing of Qassem Suleimani
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
