The Magdalena Administrative Court in Colombia has agreed to hold its first virtual hearing using the Metaverse platform developed by Meta. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Legal hearings in the Metaverse
📍Judge María Victoria Quiñones Triana has accepted a request to hold her first virtual hearing through the Metaverse. This was announced by the Magdalena Administrative Court in a resolution published on February 10 of this year.
The resolution explains that the plaintiff in a case requested that the hearing, which is scheduled for next Wednesday, February 15, be held in the Metaverse using the Horizon Workrooms platform, developed by Meta Platforms, using avatars, virtual reality glasses or, failing that, the Workrooms web app.
The parties involved in the case, the National Police and the Public Prosecutor's Office, gave their approval for the hearing to be held virtually. The court highlights that the holding of this first hearing in the metaverse demonstrates the support that the country is giving to the development and innovation of the use of technological means.
Judge Quiñones Triana, for her part, ruled out the possibility that the metaverse could affect the exercise of rights or due process.
“This office defines the metaverse as a virtual world that can be connected to using immersive technology, such as augmented reality glasses, which will make us think that we are actually inside it, interacting with all its elements,” describes the resolution of the Magdalena Administrative Court.
The role of Blockchain in AI?
📍Blockchain technology and artificial intelligence do not complement each other, DeFi architect Andre Cronje said. On his Twitter account, Cronje, co-founder of the Fantom network, answered a question that he says he has been asked frequently. The question concerns the role that the Fantom network could play in the development of the AI industry.
Cronje's response clearly indicates that the two technologies do not mix. In his view, neither blockchain improves AI, nor AI improves blockchain.
“Anyone who jumps on the AI bandwagon is simply doing so for pump and dump reasons,” Cronje said.
Other experts in the crypto industry disagree with the DeFi architect's opinion, pointing out that blockchain can indeed bring several benefits to Artificial Intelligence and vice versa.
DBS to launch cryptocurrency services in Hong Kong
📍DBS Bank is preparing to offer cryptocurrency services to its clients in Hong Kong. Sebastian Paredes, CEO of DBS Hong Kong, said that the bank is currently pursuing the necessary procedures to obtain a license that will allow it to offer cryptocurrency services to its clients in the region.
Paredes also assured that DBS Bank is taking advantage of the regulatory advances of the special administrative region of China for the crypto industry. It is worth remembering that Hong Kong wants to regain its leadership as a financial center to become a global reference for the innovation and development of cryptocurrencies.
India, the G20 and cryptocurrency regulation
📍India begins discussions on cryptocurrency regulation with G20 group. India's finance minister Nirmala Sitharaman wants G20 member countries to get involved in regulating cryptocurrencies to set a global standard for the industry.
As G20 president, India is calling on other GXNUMX countries to build a “coherent and comprehensive approach in which all countries work together to achieve some regulation,” the minister recently said.
While India urgently needs regulation, Sitharaman said, she does not want to set up a regulatory framework that is isolated from the rest. “The effort of an independent country to control and regulate it will not be effective,” Sitharaman said of the crypto industry.
Continue reading: China will create a research center to apply Blockchain in its development
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