UAE - We have been reading news about couples tying the knot in the metaverse in the UAE. And now disputes will also be resolved in the metaverse.
The Dubai International Arbitration Centre (DIAC) on Thursday announced the launch of its Metaverse for dispute resolution, providing a virtual reality space where parties can participate in dispute resolution proceedings from anywhere in the world, eliminating the need for physical transportation and further establishing the sustainability and eco-friendliness of arbitration.
The new technology will enable DIAC to provide an even higher level of alternative dispute resolution services that are both effective and accessible.
Dr Tariq Humaid Al Tayer, chairman, DIAC, said: “The launch of DIAC’s metaverse came after months of hard work and dedication from the team. This new offering comes in line with Dubai’s aspiration to be a global metaverse hub. Further, it reinforces DIAC’s position as the leading international arbitration centre, enhances our capabilities to offer innovative and novel methods for resolving disputes, and reflects our vision to be the ultimate global destination for dispute resolution.”
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