• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Friday, January 27, 2023
Smith County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Metaverse

How Could The ‘District Of Metaverse’ Concept Grow The DMV’s Economic Opportunities? – Technical.ly

by NewsReporter
April 6, 2022
in Metaverse
how-could-the-‘district-of-metaverse’-concept-grow-the-dmv’s-economic-opportunities?-–-technical.ly
Share on FacebookShare on Twitter

Civic News

1 hour ago

As the metaverse’s ubiquity grows, so does the potential to harness DMV institutions’ resources and make sure this network of virtual ecosystems works for all. Social Driver CEO Thomas Sanchez has an idea for how.

How could the ‘District of Metaverse’ concept grow the DMV’s economic opportunities?

Thomas Sanchez, CEO of Social Driver and developer of the “District of Metaverse” idea.

Thomas Sanchez, CEO of Social Driver and developer of the “District of Metaverse” idea.

(Courtesy image)

The media has been awash with grand stories about the metaverse’s potential in diverse sectors. Those stories have sparked some skepticism about the ability to convert that potential into tangible benefits. 

However, there are clear indications the market grew substantially last year, and is expected to rise even more sharply this year. This is especially because the metaverse offers the opportunity to deliver services more cost-effectively than through other technology platforms. 

Thomas Sanchez, the CEO of DC-based digital consulting firm Social Driver, noted that Meta (formerly Facebook) and Microsoft spent $10 billion and $68 billion, respectively, on the metaverse last year.

“So much business will be conducted, and so many services will be built, on this platform,” Sanchez said to Technical.ly, adding, “Few businesses will not be on this platform in the future.” 

Given these trends, Sanchez sees major opportunities for DC and surrounding jurisdictions to harness the metaverse in service of generating economic growth. He also sees a chance to better provide key services to citizens — particularly underserved ones — and afford them greater metaverse access. To accomplish that, he proposes the creation of a “District of Metaverse,” a regional entity in the DC metropolitan area that he suggested “would advise government and the public on policy issues relating to the metaverse.” 

Administration, jurisdiction and impact

Sanchez envisions this district as administered by an advisory council, which would be housed at three universities — one in the district and one in each of the bordering states. It would then issue white papers and other policy advisories on how they best can use the metaverse.

The concept, while novel to DC, is not without precedent: Seoul, the capital of South Korea, may finalize its own metaverse plan by 2026. But that’s just for one city, not a whole metropolitan area. One of Sanchez’s prime reasons for a regional approach beyond DC is that the metaverse’s implications go beyond municipal boundaries. 

Sanchez believes the metaverse would offer special opportunities in such key industries as cybersecurity, hospitality, education and life sciences. For instance, the council could train teachers on how to employ the metaverse as a teaching tool, facilitate tourism experiences or offer cyber companies the chance to create new identities. He also predicts that the District of Metaverse could spur startups to move here while broadening their reach to younger audiences. 

The “District of Metaverse” concept was partly inspired by Sanchez’s work as a member of DC’s Innovation & Technology Inclusion Council (ITIC), as well as with his company’s own clients. Social Driver, which boasts 50 employees, is currently working on a metaverse project for an undisclosed auto company, as well as another creating a “virtual dentistry portal” for a healthcare company. 

Feedback and feasibility

Ben Verdi, a global innovation manager for Grant Thornton International, sees Sanchez’s concept as totally viable. 

“I wouldn’t be surprised to see tech hubs in the DC area incentivizing the development of metaverse services and businesses in the future,” he said.  “The question is: How do local governments structure incentives and programs to enable businesses — especially small businesses — to reach their goals in the metaverse? 

Lindsey Parker, DC’s CTO, wouldn’t comment specifically about the concept. She instead emphasized that her office is focused on the infrastructural changes underpinning such engagement.

“We are really intrigued by what state and local governments are doing with this technology,” she explained. “But for now, Mayor Bowser is focused on the digital experiences of our users today, and is investing $12.6 million in the people and technology to make our government simpler, fairer, and faster.”

It’s not difficult to envision the metaverse becoming a significant tool for local governments in the DC area, especially considering the special opportunities the platform could open up for diverse businesses in the area, and the opportunity to leverage an existing technology infrastructure in many parts of the DC metropolitan area. However, it may take a somewhat longer time for diverse creative, business, policy, and technological elements to come together in order for robust metaverse platforms to be fully launched by local governments.

-30-

Related Posts

meta-is-working-on-a-web-version-of-its-horizon-worlds-metaverse-platform-–-the-verge

Meta Is Working On A Web Version Of Its Horizon Worlds Metaverse Platform – The Verge

by NewsReporter
April 15, 2022
0

Meta is planning to bring its Horizon Worlds social metaverse platform to the web, Meta CTO Andrew “Boz” Bosworth said in a tweet on Thursday. Being available on the web would mark a major expansion for the platform, which is currently only available on its Quest VR headsets. A web...

metaverse-‘legal-district’-attracts-small-firms-looking-for-strength,-and-support,-in-numbers-|-legaltech-news-–-law.com

Metaverse ‘Legal District’ Attracts Small Firms Looking For Strength, And Support, In Numbers | Legaltech News – Law.com

by NewsReporter
April 14, 2022
0

The breakneck tech evolution can be formidable, even for attorneys who might want to dip their toes into virtual waters. But despite its risks and drawbacks, law firms just can’t seem to get enough of the metaverse. Richard Grungo, the co-founder of New Jersey-based Grungo Colarulo, spent the last few months...

meta-etf:-the-metaverse-provides-new-opportunities-for-tech-stocks-–-seeking-alpha

META ETF: The Metaverse Provides New Opportunities For Tech Stocks – Seeking Alpha

by NewsReporter
April 13, 2022
0

tolgart/E+ via Getty Images Investment Thesis The Roundhill Ball Metaverse ETF (NYSEARCA:METV) is designed to offer investors exposure to the Metaverse. Emerging technologies such as virtual reality and game engines allow the Metaverse to take form and grow as they seek to expand the capabilities of a virtual world. Based...

report:-31-metaverse-related-companies-raised-$475m-in-q1-–-pandaily

Report: 31 Metaverse-Related Companies Raised $475M In Q1 – Pandaily

by NewsReporter
April 13, 2022
0

(Source: Improbable) Your browser doesn’t support HTML5 audio A report by Cailian Press estimates that 31 metaverse-related enterprises announced new financing in the first quarter of 2022 (up to April 9), raising a total amount of $475 million. Among these investments, most of them were seed round and A round...

Smith County News Online

© 2021 Smith County News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Smith County News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT