Shanghai To Boost Economy Using Metaverse, Blockchain & CBDC
By Vishakha Thakur
Shanghai is all set to boost its Economy using metaverse, blockchain & CBDC. Aditya Birla Capital’s virtual branch In Metaverse, next, we travel to Sri Lanka, where a country’s bank DFCC is all set to open a virtual branch in Metaverse, Bhutan is also testing the waters of metaverse as Druk Holding and Investments has launched Bhutanverse, a metaverse-based virtual space giving users a chance to explore Bhutan’s rich culture, then, we shall see what Meta is up to as its metaverse division, Reality Labs has lost $3.7bn in Q2.
Well, there’s a lot happening in the world of metaverse. So, let’s deep dive into the world of metaverse.
But, first, let’s listen in to what Mr. Gaurav raj Thakur, Founder of Metavoax, has to say about countries betting big on the metaverse.
Countries are betting big on metaverse and Shanghai is not far behind in the race. In order to boost its economy, Shanghai is embracing upcoming technologies such as metaverse, blockchain technology and its central bank digital currency, the digital yuan. It has recently unveiled a blueprint to use these technologies and focus on the development of key sectors.
Talking about application of metaverse in the financial sector, Kumar Mangalam Birla-led Aditya Birla Group is all set to transform the financial services industry with the help of metaverse. In order to elevate customer engagement, Aditya Birla Capital, the financial solutions arm of Aditya Birla Group has partnered with a London-based global technology and business process services company, Hexaware.
There is huge potential for Metaverse in the financial services industry. Many banks are already testing the waters of metaverse including a Sri Lankan bank DFCC which has recently unveiled a virtual branch.
It is the first Sri Lankan bank to open a virtual branch and is all set to revolutionize the financial and banking services space.
Moving on, the metaverse allows you to engage in activities such as shopping, playing games, attending events, and working together.
Well, metaverse gained traction when Facebook rebranded to Meta, and started building its virtual space, the Horizon world. The company remains focused on its metaverse ambitions despite its metaverse division, Reality Labs is routinely losing billions by the quarter.
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