After years in the downturn market, El Salvador's Bitcoin holding has risen to a 3% gain over its investment.
Colombia is leading the way in exploring the potential of the Metaverse. The country has recently launched an initiative to experiment with this new technology and see how it can be used to improve various industries, from education to tourism.
According to a Reuters’ report, the Colombian Magdalena Administrative Court recently held a court case in the Metaverse on to settle a traffic-related despite. The participants in the case were represented by avatars in a digital court hearing with the Magistrate, Maria Quinones Triana’s avatar dressed in black legal robes. According to the Magistrate, it felt more real than an online call, like a Zoom call or a Google Meet video conference. She added:
“This is an academic experiment to show that there it’s possible… but where everyone consents to it, (my court) can continue to do things in the Metaverse.”
The use-cases of the Metaverse in real-world scenarios
With online technologies offering greater access to sectors like finance, such as Bitcoin ($BTC) helping ‘bank the unbanked’, the benefit for the expanding digital world is showing itself in other industries.
The Colombian government has been partnering with several private companies to explore the possibilities of the Metaverse and the legal case is the latest example to see it play out. One of the key focuses the country is taking for Metaverse functions is on education. The country is developing a virtual platform that will allow students to attend classes and interact with teachers in a virtual environment.
This would be beneficial to students who do not have access to traditional classrooms or where there is a shortage of qualified teachers. In this regard, the Metaverse unlocks the opportunity for students to receive high-quality education from anywhere in the country.
Entertainment and tourism
Another area where the Metaverse could have an impact on the digital adoption is in the entertainment industry. By using the Metaverse, musicians from anywhere in the world could perform live concerts for audiences in other countries.This would allow fans to experience their artists in a more interactive way and could help to promote a region’s culture and music.
Colombia is also exploring how the Metaverse can be used to promote tourism, by creating a virtual version of these attractions, tourists can experience them in a more immersive way than online experiences. This could attract more tourists to the country and provide a boost to the tourism industry.