The metaverse is the next wave according to Minister of Finance Camillo Gonsalves.
Minister Gonsalves made the statement during a webinar held last week, where he said that SVG was unable to capitalize on globalization due to logistical limitations at the time.
However he says due to the metaverse’s lack of barriers to entry there is great opportunity Vincentians to get in on this wave.
“globalization passed us by to a great extent and we purchased things through globalization, so it is easier for us to get something that was made in China and order it and bring it here. So we have been consumers.
This is the next wave, this is now the wave where the challenges of globalization have been removed, because you don’t need a factory, you don’t need a shipping line, you don’t to buy fabric, you don’t need to manufacture beads, whatever the case is. So all of the things that stopped small island states from taking advantage in this first stage of globalization will be removed in this digital wave of globalization that they are calling the metaverse, and the question is…what are you going to do about it?”
The metaverse is defined as a virtual-reality space in which users can interact with a computer-generated environment and other users.
The Digital Transformation and the Creative and Cultural Industries Webinar – Unlocking the Metaverse: Digital Transformation and the Creative and Cultural Industries was held last week on Thursday July 14th.
