Why Barbados’ Metaverse Embassy Matters

Why Barbados’ Metaverse Embassy Matters
CoinDesk’s scoop that Barbados had become the first government to acquire virtual land and create a “metaverse embassy” was met with great interest, but a lot of quizzical looks as well.The question some commentators asked was: What is the point? If Barbados is trying to digitally solve some problem – such as how to make issuing visas and permits more efficient  – why use a blockchain when a simple e-government services website would suffice? The metaverse part seemed like a gimmick.You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our…