Future of Public Sector Enterprises in the Metaverse
Richmond Anane-Simon, Sulaiman Olusegun Atiku
Abstract
This chapter explores the future of public sector enterprises in the contemporary metaverse technological sphere. A literature review approach was adopted to explore customer expectations, sustainable governance forms, and innovations in the metaverse ecosystem. Findings indicate that most of the technologies that make up the metaverse's building blocks already exist or are in an advanced stage of development. Furthermore, there was a rise in the use of metaverse technology like virtual and augmented reality (AR), particularly in the healthcare sector during the pandemic. Digital currency adoption, including the use of cryptocurrencies and central bank digital currencies, was also noted. Public sector enterprises should rely on a variety of interdependent players rather than assuming they have a monopoly on knowledge or resources to govern. A process of co-evolution between non-government and governmental entities is a sine qua non for effective social innovation by public sector enterprises in the metaverse ecosystem.