ADGM Arbitration Center Launches Metaverse-Based Mediation Services

PersonOutlineIconUPYO.comCalendarTodayIcon November 13, 2022AccessTimeIcon 2 Mins Read
PersonOutlineIconUPYO.comCalendarTodayIcon November 13, 2022AccessTimeIcon Mins Read
Abu Dhabi Global Market

Abu Dhabi Global Market

The Abu Dhabi Global Market (ADGM) Arbitration Center announced the launch of metaverse-based mediation services to be the first in the world to offer such a service, according to the WAM News Agency.

Using Web 3.0’s latest technology, ADGM’s mediation in the metaverse will offer a captivating virtual mediation experience by letting the participations access a 3D office space.

The 3D office space will be based on the ADGM Arbitration Center’s physical space, with avatars for the participants integrated into the virtual surroundings. Joining the arbitration center could be done via desktop or mobile without the need for additional hardware.

ADGM Arbitration Center’s launch of such a service comes within a framework of its keenness to revolutionize the delivery of mediation around the world by taking ADGM’s courts to the next level. The move comes in line with the center’s goals that aim to make its services reach all parties, who are seeking mediation to resolve their dispute effectively without the need for their physical presence.

In this regard, Registrar and CEO of the ADGM Courts Linda Fitz-Alan said ADGM Courts are strongly keen to revolutionize the delivery of civil and commercial dispute resolution services, especially since the launch of its e-Courts platform in 2018.

“We are excited to extend this cutting-edge technology to the local and international dispute resolution community and to see where this project takes us,” Fitz-Alan noted.

Over the past few years, the UAE, especially Dubai, has positioned itself as one of the world’s prominent hubs for metaverse and blockchain technologies.

The Emirati government, in July, launched the Dubai Metaverse Strategy, which aims to contribute $4 billion to the emirate’s economy. The strategy targets increasing the number of blockchain and metaverse companies fivefold within five years as well as offering 40,000 virtual jobs.

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