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The Metaverse: What you should know

Immediately following our AGM, CanCham hosted a panel discussion on The Metaverse: What you should know. The event opened with a welcome address delivered by His Excellency, Jean-Dominique Ieraci, High Commissioner of Canada to Singapore. He shared some of Canada's top priorities for the region including the need to build relationships with Singapore and the surrounding countries, the Canada-ASEAN FTA and the design study for Canada's trade gateway to Southeast Asia. CanCham is grateful for the support and close working partnership with the High Commission of Canada and we look forward to helping the High Commission further its agenda in the coming year.

Guest were treated to an enlightening discussion about the metaverse with expert panelists Ms. Bell Beh Co-Founder and CEO at BuzzAR;Mr. Khoo Eng Tat Area Director (Outreach), Engineering Design & Innovation Centre, NUS; Mr. Pavel Bains, Co-Founder and Executive Producer at MixMob; T K Ng, Corporate Director at SideFX Asia Pacific and Side Effects Software Incand moderator, Ms. Caroline Berube, CanCham President and Managing Partner of HJM Asia Law & Co. According to our experts, the metaverse can be viewed as the next level gaming experience, that will require crypto for the foreseeable future. COVID has forced the industry to evolve at a much faster pace. From an enterprise perspective, the metaverse became necessary for training, as virtual reality systems allowed people to be in the same space without being together. The same can be said for the medical industry, where it was not possible to bring residents and students into the ward for training. Instead, they were trained through simulations on virtual patients. Some thoughtful advice was shared about enterprises entering the metaverse. Many think it is easy to enter the metaverse and have very high expectations but expertise and knowledge is needed to enter this field. There is often a misalignment of expectations and it is important to treat the metaverse like any other project and source the necessary expertise.

CanCham would like to acknowledge and give special thanks to Singapore CAE Flight Training, for sponsoring our Annual General Meeting 2022 and The Metaverse: What you should know event!

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