Dubai wants to become the capital of the metaverse

Warsaw in 2030: more green streets, sustainable transport. Gdańsk 2030: greater opening to the sea and fairways. Poznań: a center of culture and tourism in 2030. Each city has strategic plans for the coming years. Meanwhile, Dubai: $ 4 billion in revenue from the cryptocurrency sector by 2027.

Cities from all over the world regularly prepare strategic documents that are to define the directions of their development. As it is in politics: sometimes it works out, more often it doesn't, but the fact is that there are places where you manage to implement your plans more often than elsewhere. One of them is undoubtedly Dubai - currently the host of Expo 2022. 

Dubai: we focus on the metaverse

When there is no shortage of money for basic needs, the highways have - where there is such a need - six lanes each, and residents can focus on a comfortable life and multiplying their wealth, it is possible to invest in the development of modern technologies. And Dubai has been following this path for many years. Currently, it primarily focuses on blockchain technology and the latest trend - metaverse. 

Prince bin Mohammed informed about such a plan. The coming years in Dubai are to be focused on the development of Web 3.0. Of course, the plan does not start from scratch, unless we consider 1 thousand people as such a foundation. blockchain companies that already operate in Dubai. Already, each year, Dubai's budget increases by USD 500 million thanks to their activities. However, since there is a lot, it means that there can also be much more. That is why a specific development plan was created.

By 2027, Dubai aims to achieve three milestones:

• creating 40 thousand new jobs in the blockchain sector, primarily focused on the development of Metaverse,
• increasing the number of companies operating in the cryptocurrency sector to a minimum of 5 enterprises,
• increase in budget revenues to the amount of USD 4 billion from the entire cryptocurrency sector.

Ambitiously? Certainly, but also realistically. The countries of the Middle East are boldly investing in the development of blockchain technology. 

Sheikhs are observing the growing interest in renewable energy sources as well as newer and more efficient technologies in this area. And they realize that their financial power, built on crude oil, may sooner or later pass away. Therefore, using large financial resources, they invest in blockchain to stay ahead of the rest of the world. Saudi Arabia and Qatar are also included in the metaverse.

Dubai metaverse hospital

Patients of the world's first metaverse hospital, which is being built in Dubai, will be able to see how much can change in real life, when we properly combine it with metaverse technology. Thanks to the implementation Web3.0 and 3D technologies and Virtual Reality, patients who for various reasons have to spend longer time in bed will be able to take virtual walks or even participate in events or sports activities. Doctors have no doubts that this will significantly shorten the rehabilitation period and help you recover faster.

Prince bin Mohammed

Now, however, Dubai will focus not only on expanding its infrastructure, but also changing the regulations.

- The regulations will be changed so that for every blockchain company investing in the Emirate is an obvious choice that brings many benefits for both parties - underlines Prince bin Mohammed.

At the end of September, we will get to know more details of the development plan. Experts are looking forward to the Dubai Metaverse Assembly, where the next ideas on this topic will be presented. Discussion panels and industry meetings are to be organized periodically.