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African telco regulator launches metaverse adoption framework
African telco regulator launches metaverse adoption framework

Coin Geek

time9 hours ago

  • Business
  • Coin Geek

African telco regulator launches metaverse adoption framework

Getting your Trinity Audio player ready... The African Telecommunications Union (ATU) has signed a new Memorandum of Understanding (MoU) to promote the adoption and regulation of metaverse technologies across the continent. ATU signed the MoU with the Metaverse Institute, a London-based organization that supports the development of the metaverse for positive global impact. The MoU commits the two partners to a continental framework for the adoption and governance of the metaverse. The agreement is 'a historic step in our digital journey that positions Africa to lead in the next generation of internet platforms,' noted John Omo, the ATU Secretary-General. Africa's youth is marching toward a new world of digital opportunities, and 'we must act now to build safe, inclusive virtual economies and communities,' he added. The metaverse was the hottest buzzword in the tech world a few years ago, with billions of dollars invested in the technology as tech giants and startups raced to be the trailblazers. Mark Zuckerberg even changed Facebook's name to Meta (NASDAQ: META) to match the company's bold ambitions in the space. However, the technology's time at the top was short-lived, with artificial intelligence (AI) dislodging it a few years later. Today, many companies that were initially focused on the metaverse are shifting their course, and with each passing year, fewer billions are being invested in the virtual world. But despite the reduced spotlight, metaverse technologies still hold great promise. The Metaverse Institute notes that over $5 trillion will flow toward training humanoid robots in safe metaverse-based virtual environments alone. Beyond training, the metaverse offers a risk-free environment to explore solutions that would be too expensive in the physical world, such as the iterative development of smart cities. They also allow users to experiment with solutions requiring excessive trials before being released into the real world, such as medical simulations and risk-free surgical training. The MoU will also cater to metaverse regulation, which has been neglected for years. Most governments are racing to police stablecoins, decentralized finance (DeFi) platforms, and AI, with the metaverse receiving little attention, which limits its growth. 'We are honoured to comprehensively evaluate the impact of emerging technologies and the virtual worlds ecosystem on the continent, delivering pragmatic recommendations to maximize Africa's global competitiveness. Together, we envision a digitally empowered Africa by 2063, a global leader in the digital revolution, where innovation serves humanity to forge a prosperous, inclusive and sustainable future for all,' commented Christina Yan Zhang, the Metaverse Institute CEO. While the metaverse may not have the allure it had five years ago, several global giants have deployed pilots on these virtual environments to better interact with their consumers and optimize manufacturing, ranging from Nike (NASDAQ: NKE) and Christie's to Walmart (NASDAQ: WMT) and H&M. However, a new report from the University of Stirling has warned that integrating the metaverse doesn't always translate to a sales bump. The university's research found that having a digital twin of a physical product dilutes the digital product. And yet, as the consumer metaverse dips, the technology's biggest market could be in manufacturing. Major global brands like German auto giant BMW and American retail company Lowe's (NASDAQ: LOW) are using industrial metaverse to run simulations with digital 3D models to spot imperfections and improve their products, saving billions in manhours and resources. Malawi sets 2026 deadline for digital IDs In Malawi, the government has set a 2026 deadline for the issuance of digital IDs, leveraging emerging technologies like blockchain and AI. Speaking at the ID4Africa 2025 AGM in Ethiopia, Malawi's National Registration Bureau (NRB) principal secretary, Mphatso Sambo, revealed that the country has conducted a successful pilot program for the digital ID. It intends to fully roll out the service next year to enhance access to government services. The new digital ID is anchored on a strong national ID uptake in the southeastern African nation, where almost 100% of all citizens aged 16 and above now possess an ID. The digital version will be directly linked to 33 private and public institutions, 'unlocking access to finance, social protection, and essential services.' 'Through innovation and emerging technologies like AI and blockchain, Malawi has planned for a digital ID wallet,' Sambo stated. In neighboring Tanzania, the government has set aside 11 billion Tanzanian Shillings ($4.5 million) to issue digital IDs to 300,000 minors. Watch: Tech redefines how things are done—Africa is here for it title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">

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