The UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Working Applications has published a report white paper on a “Responsible Metaverse Self-Governance Framework” with contributions from OKX, a notable player in the Web3 technology domain. This initiative is a response to the growing influence of the metaverse across industries and the resulting demand for a standardized operating paradigm.
The report, prepared by Minister Omar Sultan Al Olama together with the Dubai Department of Economy and Tourism, highlights the expansive potential of the metaverse and the need for a global consensus on its operating standards as it becomes more embedded in our daily routines. The metaverse’s ripple effects are being felt across a plethora of sectors, including manufacturing, healthcare, tourism, retail, and education. While the potential is great, the lack of clear operational standards, uniform regulations or a global code of conduct poses a significant challenge in this emerging ecosystem.
A core assertion of the white paper is the vital need for international cooperation to formulate self-regulatory principles that advocate transparent, safe and ethical functioning within the metaverse. By encouraging synergy between governments, industries and civil societies, a unified framework can be formed to ensure the sustainable expansion of the metaverse while strengthening its position in the global digital economy. The “Responsible Metaverse Self-Governance Framework” is open for public review and is available in both English and Arabic languages.
According to an official report titled “Dubai Metaverse Strategy”, tThe Dubai Metaverse Strategy aimed to propel Dubai into the top 10 global metaverse economies, strengthening its existing base of more than 1,000 countries. blockchain and metaverse-oriented companies. By fostering innovation and R&D collaborations, the strategy aims to expand the economic footprint of the metaverse while fostering advanced ecosystems through accelerators and incubators. Furthermore, it emphasizes nurturing talent and investing in future capabilities by expanding metaverse education support for developers, content creators, and digital platform users within the metaverse community.
The strategy highlights the development of Web3 technology and outlines the creation of new working models for government and sectoral advancements, particularly in the areas of tourism, education, retail, remote working, healthcare and the legal sphere. A significant part of the strategy focuses on establishing global standards for building secure platforms, and accelerating the adoption of metaverse technologies by creating the necessary infrastructure and regulations. Backed by technology pillars such as data, network, cloud and edge computing, the strategy also underlines the importance of leveraging real-time data, machine learning, IoT, AI simulation and blockchain to augment human cognitive processes, while the goal is to create more than 40,000 virtual jobs by 2030 as part of a broader UAE government vision.
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