The World Government Summit sheds light on the Metaverse

 The World Government Summit, in cooperation with Arthur D. Little, launched a report entitled “Organizing the Virtual Metaverse World…

Governance and its primary role in entering and developing the virtual metaverse world”, with the aim of highlighting the opportunities and potentials

Provided by Metaverse in various sectors major economic sectors, such as energy, utilities, and health care

manufacturing and education.

The report stressed the importance of strengthening cooperation between governments and regulators around the world.

and counter the decentralized nature of the Metaverse virtual world by investing in Web3 technologies.

The report indicates the possibility of achieving this goal, through the development of clear and specific standards for legislation and multi-source data,

This leads to higher levels of participation and more use cases, leading to an optimal expansion of the metaverse system.

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effective recommendations

The report included a set of basic recommendations aimed at directing the governance approach towards strengthening the sustainability system.

In addition to focusing on providing investment solutions and empowering communities more effectively in virtual or augmented reality environments.

According to the report, government actors must achieve this goal by focusing on a number of priorities.

Including the enactment of laws and regulations necessary to develop these standards,

In a way that guarantees the active participation of the concerned authorities, while making sure to take advantage of the capabilities and opportunities provided by the virtual world of Metaverse as much as possible.

The enactment of appropriate laws and regulations is also a vital factor contributing to the enhancement of security and safety levels

Users and their data, and this priority is of exceptional importance due to its role in encouraging investment through the virtual world of Metaverse, and raising levels of participation by consumers and leading parties in this sector. Governments must

Also, to take into account the areas that require the adoption of policies and incentives,

To drive, develop and adopt the Metaverse virtual world.

The report also emphasized that the development of advanced infrastructure is one of the most important elements currently for the development of the virtual metaverse world.

Due to the absence of this necessary infrastructure. In return, governments must contribute substantially

In encouraging the required development and investment, through some important tools such as tax exemption, support and encouragement of cooperation.

Global Summit Highlights Metaverse

For his part, Thomas Kuruvilla, Managing Partner at Arthur D. Little Middle East, said: The launch of the report coincides

With the radical global transformations in the world of technology to focus on serving societies, which thus contributes

In stimulating investment on an ongoing basis, to ensure the long-term dynamic exchanges.

The recommendations included in the report provide a forward-looking vision for governments, companies and consumers alike, that enables them

From visualizing the positive effects of the virtual world of metaverse on all levels and in all fields.

Radical solutions

Metaverse technologies will certainly contribute to reducing the size of the existing digital divide, in addition to providing the finest health care and education services to the less fortunate social segments.

On the other hand, interoperability is more important to the future of Metaverse than ever before. The Industrial Metaverse is also expected to provide truly transformative tools over the next few years, to run the business more strategically.

Metaverse technologies will certainly contribute to reducing the size of the existing digital divide, in addition to providing the finest health care and education services to the less fortunate social segments.

On the other hand, interoperability is more important to the future of Metaverse than ever before. The Industrial Metaverse is also expected to provide truly transformative tools over the next few years, to run the business more strategically.

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