The Mumbai Metropolis Metaverse aims to showcase recently initiated and forthcoming citywide infrastructure megaprojects while allowing citizens to monitor the progress of the projects virtually.
The open-access platform known as the Mumbai Metropolis Metaverse enabled users to investigate a multitude of development endeavors in Mumbai and its neighboring cities through the utilization of virtual reality (VR) and 3D technologies.
Roads recently inaugurated in Mumbai span across the Arabian Sea in an effort to enhance connectivity, reduce congestion, and promote cleaner air. Additionally, for intracity travel, the municipality commissioned a number of other infrastructure projects, including subterranean and underground tunnels. The intent of the interactive user interface of the metaverse application in Mumbai is to convey this vision to its users.
Devendra Fadnavis, the deputy chief minister of Maharashtra, declared the initiative on X on February 19, inviting users from around the globe to observe the “transformation.”
The citizens of the Mumbai Metropolis will be able to track the development of megaprojects that affect their daily lives virtually. Through the website or applications available in the Google and Apple app stores, one can access the metaverse.
In conjunction with the state government’s endeavor to exhibit urban planning and development through the metaverse, the Indian central bank has recently disclosed intentions to investigate offline strategies that can enhance the uptake of the digital rupee, its central bank digital currency (CBDC), in geographically isolated regions of the nation where internet connectivity is limited.
On February 8, during a review meeting of the Monetary Policy Committee, Governor Shaktikanta Das of the Reserve Bank of India (RBI) stated:
“It is proposed to introduce offline functionality in CBDC-R to enable transactions in areas with poor or limited internet connectivity. These functionalities will be slowly introduced through the pilots.”
Ajay Kumar Choudhary, executive director of the Reserve Bank of India, first mentioned the intention to implement an offline CBDC in March 2023. At that time, the central bank stated its intention to evaluate the capabilities of the CBDC in relation to legacy system integration and cross-border transactions.
The National Payments Corporation Of India (NPCI) commenced blockchain recruitment in the fourth quarter of 2023. This initiative is a joint venture between the Reserve Bank of India (RBI) and 247 Indian banking companies. Prioritously, the candidates were required to identify “opportunities for implementing blockchain-driven solutions.”
