The Barbados Cryptocurrency and Blockchain Association (BCBA) has announced plans to have the country’s government establish a sovereign territory in the virtual reality world of ‘The Metaverse.’ This is an ambitious move, but one that could see real benefits for both blockchain innovation as well as tourism in the Caribbean island nation.

The “sovereign state” is a new territory for the country of Barbados. The country will be establishing its own sovereign territory in the virtual world and will be known as “Barbados in the Metaverse.”

Barbados to Establish Sovereign Territory in the Metaverse

Barbados, a small island country, has made the courageous decision to open an embassy in the metaverse. Starting with Decentraland, the crypto-friendly nation aspires to recognize the virtual realm’s first sovereign region.

Barbados considers the metaverse to be the next frontier, according to sources. A gathering place for individuals from all around the world to meet, learn, plan, and interact. As a result, the embassies will serve as a hub for metaverse travelers, allowing for a tangible presence in both the virtual and physical realms.

The Barbadian Ministry of Foreign Affairs inked a groundbreaking formal agreement with Decentraland, granting the country the authority to establish a digital embassy on the platform. Barbados’ ultimate goal is to establish a network of similar venues throughout the metaverse. To that purpose, discussions are presently taking place with industry pioneers like as Somnium Space, among others. All of them will ultimately have a teleportation gateway connecting the various kingdoms.

Barbados pledges a “aggressive” growth in the metaverse in the future, giving official Barbadian places that follow international law and the Vienna Convention, culminating in a once-in-a-lifetime diplomatic opportunity for Barbados, its government, and its people. The first facility is scheduled to debut in January 2022.

 

Frequently Asked Questions

What is the metaverse Barbados?

A: The metaverse is a term that refers to the digital world and its shared reality. In this instance, we are talking about Barbados.

Which country has the first digital embassy on Decentraland?

A: The United States is the first country to launch a digital embassy.

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