The advance of the metaverse and Blockchain is a growing phenomenon in Spain. Both Madrid and Zaragoza have been in the news this week for the same reason.

The Spanish bank BBVA will celebrate on September 22, BBVA a business meeting about the various investment opportunities provided by the new technologies of virtual reality, 5G, artificial intelligence, Blockchain, and the metaverse. The iconic event will be based in Elche and will be organized by Alicante Plaza.

A whole series of investment experts from BBVA Private Banking in Spain will participate in the prestigious meeting, such as Ximo Raga, Álvaro Manteca, and Óscar Esteban, Fidelity’s sales manager for Spain and Portugal. The latter will give a presentation under the title “metaverse, Blockchain, 5G, Virtual Reality; the beginning of a new technological golden age.”

After a group of comments about the event, Ximo Raga, director of private banking for BBVA’s Eastern Territory, commented that these new technologies, such as the metaverse and Blockchain, can be key to solving problems related to the environment and economic growth, there the relevance of attributing them a focused event.

“New technologies can play a double positive role against climate change since they allow both an increase in environmental performance and an improvement in economic performance.”

Advance of Blockchain and the Metaverse in Spain

The advance of the metaverse and Blockchain is a growing phenomenon in Spain. Only this week, both Madrid and Zaragoza have been in the news by betting on them. The first will host the DEC 2022 conference on metaverse and user experience. Zaragoza for its part will bet on building a replica of the Plaza del Pilar in the metaverse.

As announced, this project seeks to attract a number of interested tourists, without the need for them to leave their residence. This could happen in the first instance, since the measure could attract more tourism, by giving a concrete idea to those who harbored doubts about the visit.

The local initiative is a short-term bet, in which information on museums, works of art, historical monuments, and ecotourism, among other fascinating experiences, will be offered. Zaragoza’s metaverse seeks to generate immersive 3D experiences, which are inspired by the cultural roots of the city.

However, this is a much older trend, as was the case of the Madrid City Council, which launched its first call “Blockchain and Advanced Technologies Awards 2022”. This call was to promote startups that have Blockchain in their business model, awarding a prize of 40,000 euros.

This year, the Government of the Canary Islands and Alastria signed a collaboration protocol for the implementation of Blockchain technology in the digital transformation process of the Canary Islands.

In 2021, the Zaragoza City Council in Spain invested 18,148 euros in a Blockchain crowdfunding tender. It sought to financially support entrepreneurial projects in the city.

Some of the objectives of the project were to: promote the social advancement of creative areas and awareness of Blockchain and metaverse technologies, attract tourism, promote the creation of technological tools from entrepreneurship, retain human capital in the city, and involve small communities, among others.

By Audy Castaneda


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