Third day of WEF Davos shows a mixed view of Metaverse
Despite the increased interest in Metaverse amplified by Facebook's rebranding to Meta Platforms, the general public has yet to see any tangible examples of it
A sign of the WEF is seen at the Congress centre during the World Economic Forum (WEF) annual meeting in Davos on January 18, 2023. (Photo by Fabrice COFFRINI / AFP)​
During the third day of the World Economic Forum (WEF) at Davos, discussions about blockchain technology didn't lead to a clear path, with those involved in creating the Metaverse still trying to fully understand it.
Additionally, regulators suggested that central bank digital currencies (CBDC) could potentially have negative effects on the global economy. The WEF released two reports on the Metaverse, defining it as a digital world that will change how people interact, work, and play, and is immersive, interoperable, and synchronous.
Despite the increased interest in the Metaverse, which was amplified by Facebook's rebranding to Meta Platforms in 2021, the general public has yet to see any tangible examples of it.
The head of media, entertainment, and sport at WEF, Cathy Li, stated during a press conference on Wednesday that the concept of the Metaverse is still evolving and does not yet have a set definition.
Huda Al Hashimi, the Deputy Minister of Cabinet Affairs for Strategic Affairs in the United Arab Emirates, stated during the same event that there are many open-ended questions surrounding how the Metaverse should be regulated and that extensive testing is needed.
