Seoul Government Launches Metaverse City for Its Citizens

UTC by Sanaa Sharma · 3 min read
Seoul Government Launches Metaverse City for Its Citizens
Photo: Unsplash

More than 17% of the South Korean population is over sixty-five years old as of the data generated in 2022, and hence, providing vital information via the Metaverse seems to be a very natural course of action.

The Seoul Metropolitan Government has revealed its Metaverse Seoul project, which enables citizens of the South Korean capital to avail of city services in the digital ecosystem.

In an announcement on January 16, Seoul Mayor Oh Se-hoon explained that the inauguration of the initial phase of Metaverse Seoul followed a beta investigation of the undergoing venture. According to the mayor of Seoul, the digital ecosystem will provide the citizens with a place for communication, and enable them to cherish several of Seoul’s attractions and tourist places. However, there’s more to the Metaverse.

People can also look into official documents, file some specific complaints, and provided answers to some common questions while filing for municipal taxes. The city’s administration allegedly shelled 2 billion, wherein $1.6 million was awarded in the initial phase of the Metaverse project. According to Oh, the subsequent phase will comprise building a Metaverse which is even more accessible to senior citizens, who otherwise encounter issues while traveling from one city office to another.

More than 17% of the South Korean population is over sixty-five years old as of the data generated in 2022, and hence, providing vital information via the Metaverse seems to be a very natural course of action.

South Korean population also enjoys one of the fastest internet networks in the world and has consequently been at the receiving end of several projects involving the metaverse and blockchain inclusion as the industry develops. In August recently, the city of Busan revealed its plans to create a crypto exchange in partnership with FTX. Now that FTX has suffered a major collapse that has rocked the crypto world altogether, the local government ditched many international centralized exchange collaborations due to the fear of crypto fragility.

The good news is that the intrigue about cryptocurrency in the entire world is on a rise, with Facebook rebranding itself to Meta in October 2021. This also led to several companies launching their virtual offices and undertaking several digital assignments to be on board. However, following the recent market crash and the decline of major platforms like FTX, Voyager Digital, and Celsius Network, the industry has slowed down and is walking a cautious path.

The South Korean government has been extremely supportive of the Decentralized space and has an ambitious 58.2 trillion plan to change its economy to one that welcomes newer technology called the Digital New Deal. A significant part of this package is tagged to help the country grow and become 5th among the most metaverse-adopted nations of the world by 2026.

Blockchain News, Cryptocurrency news, News, Technology News
Sanaa Sharma
Author Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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