The ADGM Arbitration Center, a state-of-the-art hearing facility for arbitration and mediation in the International Financial Center of the United Arab Emirates capital, has launched the world’s first service to host mediation in the Metaverse.
The service will revolutionize the provision of mediation worldwide, instantly transforming the court-announced mediation scheme implemented by the ADGM Courts into a next-generation approach to mediation.
Mediation allows the parties to negotiate the resolution of their dispute with an impartial mediator and in maximum confidentiality. It is a consensual process in which no decisions are imposed on the parties. Early resolution of disputes through mediation helps preserve business relationships and free up company resources, allowing organizations to focus on core business priorities.
By using the latest available Web3 technology, ADGM’s “Mediation in the Metaverse” service enhances virtual mediation by giving participants access to a 3D office space for a more immersive experience. Offers. This virtual space is based on the physical space within the ADGM Arbitration Center, with video images of participants integrated into the virtual environment. No additional clothing required. This immersive experience that mimics the physical world inevitably results in a greater connection between participants.
The new Metaverse service is in line with the ultimate goal of increasing the ADGM Arbitration Center. Embracing mediation as an invaluable tool for resolving disputes, noting the impressive 80% success rate of ADGM court mediators to date. This initiative is in line with the UAE’s commitment to reducing the carbon footprint of international dispute resolution. Eliminating the need to travel to in-person meetings by providing a digitally enabled solution for resolving disputes on a global scale is a positive step forward. This is especially important at a time when sustainability is a key area of focus for board executives.
ADGM Court Registrar and CEO Linda Fitz-Alan said: The ADGM Arbitration Center was developed with a “digital first” approach, so this is a natural evolution of that mindset.
A leadership approach and commitment to delivering a unique service to our clients. We look forward to extending this cutting-edge technology to the national and international dispute resolution community and seeing where this project will lead us. ”