A global cybersecurity firm has confirmed that it intends to launch a secure gateway to the metaverse from Gibraltar, as it seeks to help make the British Overseas Territory a leading player in this emerging tech sector.
What is being proposed for the metaverse in Gibraltar?
As reported by the Gibraltar Chronicle, the CEO of WISeKey – the La Linea-born businessman Carlos Moreira – held a presentation at a law firm in Gibraltar to announce the project. He was joined there by Fossa CEO Julian Fernandez, who in his teens, built a satellite company that is now partnered with the American aerospace manufacturer, Space X.
Also present at the event was La Linea mayor Juan Franco, as well as lawyers and Gibraltar businessmen, who asked Mr Moreira and Mr Fernandez about their businesses.
The Gibraltar newspaper reported that Mr Moreira’s plans to launch a metaverse would entail him setting up a Gibraltar branch of WISeKey, in addition to working alongside the Gibraltar Digital Skills Academy to encourage the emergence of young talent in cybersecurity.
The term ‘metaverse’ is used in reference to virtual reality worlds that are regarded as central to the development of the next version of the Internet, termed ‘Web 3.0’.
Various leading tech firms have been racing to create metaverse platforms of their own, and Mr Moriera is among those who have identified the metaverse as being key to a future decentralised Internet.
He described at the presentation event how Web 3.0 also offered ripe business opportunities, marking what he called the Fourth Industrial Revolution. Together, he said, Gibraltar and La Linea would find their space in this market.
A world of possibility for Gibraltar companies
Mr Moreira commented: “The idea and what we are discussing here is how companies in Gibraltar, and those who have services like lawyers, Fintech, data centres and bankers, how can they move from Web 2.0 into Web 3.0 and be present in the metaverse.”
This world, he explained, would involve all services being fully integrated, with firms being based in the metaverse.
He cited as examples: “[If] you need legal services you can register your company in the metaverse, that is going to be huge. Or you want to develop a cryptocurrency for the metaverse, a Gibraltar coin, where people will buy services on the metaverse, or you want to develop health services on the metaverse.”
With regard to cybersecurity, Mr Moreira drew attention to the risk of metaverse hackers, and the role young Gibraltarians could play in helping to protect against them. However, he added that he felt improved technology would help make the metaverse more secure than traditional tech.
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