Abu Dhabi: The Global Market Arbitration Centre has introduced the world’s 1st service that hosts mediation in the metaverse. This service will immediately transform the court-annexed mediation program run by ADGM Courts into the next-generation method of mediation, revolutionizing the delivery of mediation throughout the world.
ADGM’s “mediation in the metaverse” service will offer a more immersive experience by utilizing the most recent Web3 technology, boosting virtual mediation by enabling the participants to access a 3D office environment.
Such virtual space would be modeled after the physical space inside the ADGM Arbitration Centre with video imaging of participants integrated into the virtual environment. There will be no additional hardware required to access the virtual Arbitration Centre apart from a desktop or mobile computer. Participants will certainly become more connected as a result of this immersive experience, which simulates the real world.
The new metaverse service supports the ultimate objectives of the ADGM Arbitration Centre, which include;
- The reach of mediation to parties who wish to explore a resolution of their dispute on their own terms and question its effectiveness without their physical presence.
- The acceptance of mediation as an invaluable means to resolve disputes, noting the impressive 80 percent success rate to date of ADGM Courts’ mediators.
The program is in line with the UAE’s pledge to lessen the carbon impact of international dispute settlement. By offering digitally enabled solutions to settle disputes on a worldwide scale, the system can do away with the necessity for travel to in-person meetings. This is crucial at a time when boardroom leaders are focusing heavily on sustainability.
ADGM Courts have a strong reputation for revolutionising the delivery of civil and commercial dispute resolution services, especially since the inception of our e-Courts platform in 2018. Likewise, the ADGM Arbitration Centre was developed with a ‘digital first’ approach, so this is a natural evolution of its thought.
Ms Linda Fitz-Alan, Registrar and CEO of the ADGM Courts, remarked.
“Leadership approach and commitment to providing unique services to clients. We are excited to extend this cutting-edge technology to the local and international dispute resolution community and to see where this project takes us.” Ms. Linda further added.