Revolutionary Infrastructure: Mumbai’s Metaverse Initiative

Mumbai, the financial hub of India, has launched a new initiative called the Mumbai Metropolis Metaverse. This platform allows users to explore and experience the city’s infrastructure projects through 3D and virtual reality technology. With the aim of sharing its development vision, Mumbai has recently completed projects such as roads built over the Arabian Sea and underground tunnels for intra-city travel.

The Mumbai Metropolis Metaverse was announced on February 19 by Maharashtra’s deputy chief minister, Devendra Fadnavis. The platform enables citizens to monitor the progress of these megaprojects, giving them insight into how these developments impact their daily lives. Accessible through a website and mobile apps, users worldwide are invited to witness the city’s “transformation.”

Simultaneously, the Reserve Bank of India (RBI) has announced plans to explore offline solutions for its central bank digital currency (CBDC), the digital rupee. This initiative aims to boost adoption in remote areas of the country with limited internet access. RBI Governor Shaktikanta Das stated that the introduction of offline functionality in CBDC-R would enable transactions in areas with poor connectivity.

The proposal for an offline CBDC was first discussed in March 2023, with the RBI looking to test its potential for cross-border transactions and integration with existing systems. The National Payments Corporation of India (NPCI) has also begun blockchain recruitment to identify potential areas where blockchain-driven solutions can be utilized.

Both the launch of the Mumbai Metropolis Metaverse and the RBI’s plans for an offline CBDC demonstrate India’s commitment to technological advancements for urban planning and financial inclusion. These initiatives aim to improve connectivity, reduce traffic, promote cleaner air, and ensure that digital currency is accessible to all, regardless of internet limitations.