Barbados to Launch the World’s First Metaverse Embassy

Metaverse is no more just an idea, it is becoming a reality. In a giant leap towards the legitimization of the Metaverse, Barbados announced that the island nation is planning to open a Metaverse embassy.

Through an agreement signed with Decentraland, Barbados aims to establish a digital embassy. According to a report published by CoinDesk, the government of Barbados is finalizing partnerships with several leading Metaverse platforms.

Metaverse embassy is not the only target of Barbados, the nation is also planning to purchase lands in a broad range of virtual worlds. “The idea is not to pick a winner. The metaverse is still very young and new, and we want to make sure what we build is transferable across the meta worlds,” Barbados’ ambassador to the United Arab Emirates, Gabriel Abed, said in an interview with CoinDesk.

The concept of Metaverse is gaining popularity among crypto-friendly nations. Barbados is gradually becoming a crypto hub in the region. While the minor details of the recent digital embassy were not disclosed, the country’s presence in the Metaverse would be important for the overall adoption of the virtual world.

Metaverse and Crypto World

Abed remained vocal about the importance of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and virtual worlds in today’s society. According to him, Barbados has adopted a digital approach to accept crypto assets and the Metaverse. “With the release of the embassy, tentatively scheduled for January, Barbados will become the first country in the world to recognize digital sovereign land. The Ministry of Foreign Affairs, The Ministry of Science and Technology, and many other governmental bodies reviewed the plans over several, several months,” Abed said.

Apart from Barbados, several other nations are entering the crypto world. El Salvador, a country in Central America, accepted Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term as a legal tender in the country in September 2021. Furthermore, El Salvador is holding the digital asset. During October’s crypto correction, El Salvador expanded its BTC portfolio with the addition of 420 Bitcoin.