{"id":540843,"date":"2023-01-19T11:51:19","date_gmt":"2023-01-19T08:51:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/metaverse-not-the-endgame-but-ongoing-digital-transformation-davos-2023\/"},"modified":"2023-01-19T11:51:19","modified_gmt":"2023-01-19T08:51:19","slug":"metaverse-not-the-endgame-but-ongoing-digital-transformation-davos-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/metaverse-not-the-endgame-but-ongoing-digital-transformation-davos-2023\/","title":{"rendered":"# Metaverse not the endgame, but &#8216;ongoing digital transformation&#8217;: Davos 2023"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33e4a24ccd4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33e4a24ccd4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/metaverse-not-the-endgame-but-ongoing-digital-transformation-davos-2023\/#%E2%80%9D_Metaverse_not_the_endgame_but_%E2%80%98ongoing_digital_transformation_Davos_2023_%E2%80%9C\" >&#8221; Metaverse not the endgame, but &#8216;ongoing digital transformation&#8217;: Davos 2023  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Metaverse_not_the_endgame_but_%E2%80%98ongoing_digital_transformation_Davos_2023_%E2%80%9C\"><\/span>&#8221; Metaverse not the endgame, but &#8216;ongoing digital transformation&#8217;: Davos 2023  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvOWU0NjJlNDktNzk3Zi00N2IxLTk2YjYtYzk5ODJkYjVlM2Y3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>The metaverse has been a buzzword inside and out of the Web3 world over the last year. Moreover, development in the metaverse is something that has remained strong relative to the overall turmoil of the decentralized space.<\/p>\n<p>It is also a hot topic at the 2023 World Economic Forum (WEF) in Davos, Switzerland. The WEF has been developing its own <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/initiatives.weforum.org\/defining-and-building-the-metaverse\/home\">initiative<\/a>, \u201cDefining and Building the Metaverse,\u201d with the participation of over 120 participants, for which it held a press conference on Jan. 18.\u00a0<\/p>\n<p>The WEF panel highlighted the initiative\u2019s first two papers, which cover interoperability, governance and the consumer\u2019s role in the metaverse of the future. <\/p>\n<p>Huda Al Hashimi, one of the panelists and the deputy minister of cabinet affairs for strategic affairs in the United Arab Emirates, framed the future of the metaverse as a space to break societal barriers and not recreate the same issues. <\/p>\n<blockquote><p>\u201cWe have to ask ourselves why we are still stuck in the domains we want to break through. We believe that a breakthrough will h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en.\u201d\u00a0<\/p><\/blockquote>\n<p>Particularly when it comes to governmental bodies creating their presence in digital reality, Hashimi says the vision of the initiative has reimagined the role of regulators.  <\/p>\n<blockquote><p>\u201cWe also see that regulators will be acting more like referees rather than gatekeepers. That code of conduct will actually take precedence over formulating policies.\u201d<\/p><\/blockquote>\n<p>Across the globe governments have been exploring the metaverse. The UAE in particular has already launched a government-backed metaverse city in the country as one of its many initiatives in digital reality.\u00a0<\/p>\n<p>Norwegian governmental offices have also opened up metaverse branches\u00a0to cater to the generation of users.<\/p>\n<p>Cathay Li, the head of Shaping the Future of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a>, Entertainment &amp; Sport and member of the ExCom at World Economic Forum Geneva, said regulations and value creation are two key issues that needed to be understood for a digital reality that is beneficial for users.<\/p>\n<blockquote><p>\u201cThere is tremendous economic and societal value in this. But if it is unregulated, then there might be some issues with privacy, safety and security.\u201d<\/p><\/blockquote>\n<p>Li said that the metaverse should not be looked at as an \u201cend state\u201d to all of the work and developments underway now. Rather it should be seen as an \u201congoing digital transformation\u201d of human experience in digital reality.\u00a0<\/p>\n<p>In addition to ideas of governance, the panelists touched on interoperability and user data generation within the metaverse.<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Seoul government opens city\u2019s metaverse project to public<\/em><\/strong><\/p>\n<p>Siu Yat, the co-founder and executive chairman of Animoca Brands, noted that digital property rights are key to the interoperability needed in the next evolution of the metaverse. He said :<\/p>\n<blockquote><p>\u201cIf you don&#8217;t have judicial property rights, then you can actually have digital freedom &#8211; the freedom to transact because it&#8217;s always permissioned. I think that this lies at the foundation of making interoperability benefit everyone.\u201d<\/p><\/blockquote>\n<p>All three panelists had a five year vision of the metaverse that is more integrated into most people\u2019s everyday life, along with more clear governance structures in place. \u201cThe metaverse will be part of our lives whether we like it or not,\u201d said Hashimi.\u00a0<\/p>\n<p>Yat closed by highlighting that a metaverse in the near future will also have generated new economies, which could be of a national scale.\u00a0<\/p>\n<blockquote><p>\u201cNew national economies will spring out of the metaverse, like a virtual society that is real because of all the transaction value and all the commerce that&#8217;s happening on it.\u201d<\/p><\/blockquote>\n<p>He particularly stressed that with more robust digital properties, users will actually be able to have a stake in these new digital economies. Recently, McKinsey reported the metaverse to potentially create $5 trillion in value in the next seven years.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/metaverse-not-the-endgame-but-ongoing-digital-transformation-davos-2023\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Metaverse not the endgame, but &#8216;ongoing digital transformation&#8217;: Davos 2023 &#8220; The metaverse has been a buzzword inside and out of the Web3 world over the last year. Moreover, development in the metaverse is something that has remained strong relative to the overall turmoil of the decentralized space. It is also a hot topic&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/9e462e49-797f-47b1-96b6-c9982db5e3f7.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[127290,91498,93542,79671,74355,90812,71511],"class_list":["post-540843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-consumer-tech","tag-metaverse","tag-web3","tag-world-economic-forum","tag-adoption","tag-davos","tag-government"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=540843"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540844"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}