Abu Dhabi Global Market launches Mediation in the Metaverse

Abu Dhabi Global Market launches Mediation in the Metaverse

Abu Dhabi unveils the world’s first virtual mediation centre as part of its digital first strategy.

Hot on the heels of China’s announcement that it is to open an international, inter-governmental mediation centre in Hong Kong, the Abu Dhabi Global Market (ADGM) Arbitration Centre has launched a virtual mediation service in the metaverse.

The ADGM Arbitration Centre has launched the world’s first “mediation in the metaverse” service to revolutionise the delivery of mediation across the globe.

ADGM’s unique metaverse service is the starting point for a sustainable next generation approach to international dispute resolution and is set to increase the reach and effectiveness of mediation as a preferred form of dispute resolution.

The ADGM Arbitration Centre, the state-of-the-art hearing facility for arbitration and mediation situated in the international financial centre of the UAE’s capital, has launched a world’s-first service that hosts mediation in the metaverse. This service will revolutionize the delivery of mediation across the globe immediately transforming the court-annexed mediation scheme conducted by ADGM Courts into the next generation approach to mediation.

Mediation enables parties to negotiate a settlement of their dispute with the utmost confidentiality with an impartial mediator; it is a consensual process where a decision is not imposed upon the parties. Early settlement of disputes through mediation helps preserve business relationships and frees up company resources, allowing organizations to focus on core business priorities.

By using the latest Web3 technology available, ADGM’s “mediation in the metaverse” service will provide a more immersive experience, enhancing virtual mediation by allowing the participants to access a 3D office space. This virtual space will be based on the physical space within the ADGM Arbitration Centre, with video imaging of participants integrated into the virtual surroundings. Entering the virtual Arbitration Centre will be via a desktop or mobile device, without the need for additional hardware. This immersive experience, which mimics the physical world, will inevitably result in a greater connection between the participants.

The new metaverse service aligns with the ADGM Arbitration Centre’s ultimate goals of increasing: 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; and the acceptance of mediation as an invaluable means to resolve disputes, noting the impressive 80% success rate to date of ADGM Courts’ mediators. The initiative is in line with the UAE’s commitment of reducing the carbon footprint of international dispute resolution. Eliminating the need for travel to in-person meetings by providing digitally enabled solutions to resolve disputes on a global scale is a positive step forward. This is especially important at a time when sustainability is a main area of focus for boardroom executives.

Read the complete article here.

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