{"id":12453,"date":"2022-05-21T18:50:49","date_gmt":"2022-05-21T18:50:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/dubai-creates-committee-to-help-cement-its-position-as-key-city-in-the-metaverse-metaverse-bitcoin-news\/"},"modified":"2022-05-21T18:50:49","modified_gmt":"2022-05-21T18:50:49","slug":"dubai-creates-committee-to-help-cement-its-position-as-key-city-in-the-metaverse-metaverse-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/dubai-creates-committee-to-help-cement-its-position-as-key-city-in-the-metaverse-metaverse-bitcoin-news\/","title":{"rendered":"Dubai Creates Committee to Help Cement Its Position as ‘Key City in the Metaverse’ \u2013 Metaverse Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The rulers of Dubai have created a committee that is mandated with tracking the latest developments in the digital economy. The committee is also expected to bolster the rulers\u2019 quest to make Dubai a \u201ckey city in the metaverse.\u201d <\/strong><\/p>\n

Dubai Rulers\u2019 Vision<\/h2>\n

The Dubai rulers, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum the crown prince and the deputy prime minister, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, reportedly \u201creviewed vital technology trends in the metaverse and issued directives to form a task force to track the latest developments in the digital economy.\u201d<\/p>\n

According to Sheikh Hamdan, the creation of the task force will likely help Dubai in its endeavour to become \u201ca key city in the metaverse.\u201d Extolling the decision by the country\u2019s rulers to make Dubai a leader in the metaverse race, the crown prince said:<\/p>\n

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The directives of His Highness Sheikh Mohammed bin Rashid to form a higher committee to supervise Dubai\u2019s future technological developments reflect the importance of facing the future with an open mind. The move will help us fully understand reality and explore unique ideas that will shape a brighter future for Dubai and the UAE, maximising future business opportunities.<\/p>\n<\/blockquote>\n

The Metaverse\u2019s Contribution to Dubai\u2019s Economy<\/h2>\n

Sheikh Hamdan, who is also the chairman of the Dubai Executive Council (DEC), revealed that the task force is already working on \u201ckey pillars and the objectives of the Dubai Metaverse Strategy.\u201d This strategy, according to a report<\/a> published by Wam, seeks to \u201cincrease the contribution of the metaverse sector to Dubai\u2019s economy to US$4 billion by 2030.\u201d<\/p>\n

The Dubai rulers are also looking to increase the metaverse\u2019s contribution to Dubai\u2019s gross domestic product (GDP) to one percent, the report said.<\/p>\n

Meanwhile, the report said the task force is seeking to implement metaverse technologies, which in turn will help improve the performance of resident surgeons by 230 percent and increase the productivity of engineers by 30 percent.<\/p>\n

In addition, the report said there were expectations business revenues from the metaverse could surge to $400 billion by 2025, from the current $180 billion.<\/p>\n

What are your thoughts on this story? Tell us what you think in the comments section below.<\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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