A Colombian court recently hosted its first legal trial in the Metaverse, with the court magistrate saying it felt “more real than a video call,” according to a recent report. According to a Reuters report published on Feb. 24, Colombia’s Magdalena Administrative Court held a court case in the Metaverse on Feb. 15, involving participants in a traffic dispute. The case, which went on for two-hours, was brought by a regional transport union against the police, which will progress “partly” in the metaverse, with a potential for the verdict to also be given in the metaverse. The participants appeared as …

The COP has also created tools to prevent climate doomsday. Such economic tools as voluntary and compliance carbon markets, carbon credits, green bonds and other green assets tied to positive environmental impact play a crucial role in decarbonization global efforts. However, they are often inaccessible to small and medium-sized companies from developing countries. The main reasons are high upfront costs and complex structuring processes in line with global green standards. Positive and negative impacts on the environment have to be forecasted and described according to approved methodologies. This information is used for the future monitoring and reporting and is verified …

Web3 and the metaverse were handed a seat at the table of the World Economic Forum in 2023 as the ecosystem continues to drive innovation across industries. As Cointelegraph continues to explore, the presence of the cryptocurrency and blockchain ecosystem was mainly found outside the walls of the WEF. Blockchain Hub Davos and GBBC’s Blockchain Central were two central events in town that brought together the wider crypto community that has been somewhat left out of the WEF’s discourse on the sector. The metaverse is a notable exception to this trend. Although some metaverse applications do not operate on decentralized …

The World Economic Forum (WEF) convenes in Davos annually, taking over the Swiss skiing town. The main promenade is flush with events and companies renting out properties, with an increasing presence from companies in the cryptocurrency and blockchain space. The entrance to the WEF compound is restricted by cement barriers and security personnel, drawing an invisible line between the conference and the rest of Davos. Curiously, the last building on the fringe of the conference was branded with familiar logos, that of Polygon and the ever-recognizable Bitcoin (BTC) symbol. Cointelegraph stumbled upon Pietro Poretti while shooting footage of the Bitcoin …

Key figures from the wider cryptocurrency space painted a picture of increased dialogue and collaboration at the World Economic Forum Annual Meeting in Davos. Cryptocurrencies and blockchain technology remained but a small part of the projects and initiatives discussed and workshopped at the annual WEF conference high in the Swiss Alps. However, an increased number of sessions focused on the sector suggests that the wider world is looking for synergies between traditional finance and decentralized finance. This theme emerged from a number of interviews conducted by Cointelegraph during January’s conference in Davos. Senior executives from XRP issuer Ripple and USD …

Traditional finance, or TradFi, continues to explore the world of cryptocurrencies and blockchain technology, with the World Economic Forum holding more workshops and sessions for the sector in 2023. These were major themes seen by the Cointelegraph team as they covered the action throughout a busy week in Davos, Switzerland. In a late-night recording session, the team recapped everything readers need to know about the week for the new Decentralize With Cointelegraph podcast. Cointelegraph editor-in-chief Kristina Lucrezia Cornèr reflected on her access inside the WEF compared with previous years in Davos. She also unpacked the ongoing synergies between traditional finance …

The metaverse continues to be a central talking point among leaders and decision-makers in global industries. For many, the vision of the future of the metaverse is not limited to a gamified version of reality. At the World Economic Forum (WEF) 2023 in Davos, Switzerland, a panel of experts came together to discuss a global idea of an industrialized metaverse. With echoes of the industrial revolution, the industrialized metaverse will bring Web3 technologies and beyond into industries that are at play in everyday life. “Deployment in the Industrialized Metaverse” started out with Abdullah Alswaha, the minister of communications and information …

The metaverse has been a buzzword inside and out of the Web3 world over the last year. Moreover, development in the metaverse is something that has remained strong relative to the overall turmoil of the decentralized space. It is also a hot topic at the 2023 World Economic Forum (WEF) in Davos, Switzerland. The WEF has been developing its own initiative, “Defining and Building the Metaverse,” with the participation of over 120 participants, for which it held a press conference on Jan. 18. The WEF panel highlighted the initiative’s first two papers, which cover interoperability, governance and the consumer’s role …

Switzerland is a “pivot point” for crypto adoption in Europe and continues to be the “center point of the next stage of institutionalization," said Dr. Dirk Klee, CEO of Bitcoin Suisse. The CEO divulged why Switzerland is still the top spot for crypto in Europe and will continue to attract institutional investors in an exclusive Cointelegraph interview streetside in Davos, Switzerland. We have boots on the ground in Davos! Our reporter @gazza_jenks speaks to Dr. Dirk Klee, CEO of @BitcoinSuisseAG about Switzerland and the adoption of cryptocurrency at the @wef. #CTWEF23 pic.twitter.com/ka00dvWpVz — Cointelegraph (@Cointelegraph) January 18, 2023 In discussion …

South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in Davos, Switzerland. In a WEF 2023 panel discussion dubbed “In the Face of Fragility: Central Bank Digital Currencies” Kganyago voiced his opinions on CBDCs and questioned if there’s a real problem solved by this new technology. Kganyago said: "Is this a solution looking for a problem or do we have some real problem that we are trying to solve?" The central bank governor also highlighted that the countries which are researching and …

2022 was “the perfect storm” for Bitcoin (BTC) miners, according to Jaime Leverton, CEO of Hut8 mining, one of the largest crypto miners and digital asset experts in the space. Leverton sat down with Gareth Jenkinson, senior reporter at Cointelegraph, in an interview at the World Economic Forum in Davos, Switzerland. Topics included were the 2022 bear market, Web3 diversification and, crucially, Bitcoin’s growing positive impact on the environment and broader economy. Leverton shared that 2022 was a turbulent year for miners: “Obviously depressed Bitcoin prices, global hashrate continues to hit all-time highs and then an energy crisis is thrown …

The World Economic Forum (WEF) released a “toolkit” for digital autonomous organizations (DAOs) on Jan. 17. More than 100 experts contributed to the document attempts to provide “a starting point for DAOs to develop effective operational, governance and legal strategies.” The 37-page so-called toolkit is explanatory in nature, with concise but encyclopedic entries on DAOs and related topics. It described them as “a set of adaptable resources for key stakeholders to help realize the full potential of this emerging form.” DAOs have “the potential to address many of the shortcomings of the traditional firm while also realizing more equitable governance …