Recently Barbados has announced that it will open its embassy in metaverse. This will be the world’s first metaverse embassy and will be build using the virtual reality platform Decentraland. Barbados also plans to open further embassies in other platforms as well.

Gabriel Abed, is Barbados ambassador to the United Arab Emirates and is also strategizing the metaverse blueprint for the Caribbean nation. According to Abed, Barbados is a tiny island nation and metaverse will support it to expand its diplomatic ties with other nations in a digital way. Metaverse will help it in showcasing culture and business opportunities to larger set of Nations without adding physical embassies and puts Barbados in parity with other large Nations.

Barbados has announced that once the virtual embassy is up and running, it would start providing consular services digitally. Senator Jerome Walcott, who is the foreign minister of Barbados is enthusiastic about the move and has said that he looks forward to welcome the world in the digital embassy.

According to estimates of research firm Strategy Analytics, the global metaverse industry is predicted to surpass the figure of $4o billion by 2026, owing to rising interest in virtual spaces for business and recreation. Decentraland is a metaverse platform, operating as a fully decentralized virtual world. It was created with a vision to be truly decentralised structure where ownership lies with the people who create this virtual space and play in it.

Decentralized Autonomous Organization (DAO) allows the users of the platform to determine how the metaverse will behave, what will be the policies, what features will be allowed, content moderation, land policy etc

What makes the Decentraland unique is the fact that various assets are owned by the DAO e.g the smart contracts related to Contracts of Land and Estates, Marketplace, Wearables, Content Servers etc DAO also owns a significant portion of MANA, giving it a truly autonomous and decentralised characteristic, supporting it to subsidize various operations.

During the last month ending November 30, 2021 which marks the country’s 55th Independence Day, Barbados has severed its ties with the British monarchy. Barbados has ended its affiliation with monarchy after nearly 400 years to become a sovereign state. Barbados economy is dependent on tourism and offshore services and its national currency is Barbados dollar (BBD) pegged to USD.  Decision to expand diplomatic ties through metaverse is coinciding with timing of its attaining sovereign status.

Bureau Galactic Views