< PreviousSUSTA I N A BILITY | 40 Vol. 24/05, May 2023 Why I invested in a clean water solution Murtaza Hashwani, deputy chairman and CEO of Hashoo Group and chairman of Hashoo Foundation, talks about the urgent solution for clean water for one-third of the world’s population that has no access to it Noble undertaking Hashwani says solving one of the critical UN Sustainable Development Goals while launching an innovative and affordable solution was a no-brainer 2 BILLION The number of people who live in water-stressed countries with lack of access to safe drinking water, according to UNICEF SUST AIN ABILI T Y | dation, philanthropy is part of Hash- wani’s DNA. Over the past few decades, his ambitious plans for greater outreach and meaningful impact with access to education, health and sustainable livelihood have resulted in millions of men and women directly bene tting in rural and urban settings in Pakistan. A huge proponent of impact invest- ment, Hashwani found the perfect opportunity with PakVitae, interna- tionally known as EveryWater. When three young scientists, Shayan Sohail, Arslan Ahmad and Ha z Usama Tanveer, met with Hashwani and explained their ground-breaking and affordable solution to provide clean and safe drinking water, things started moving fast. Hashwani realised what the young men had discovered could be a game changer and immedi- ately engaged an Austrian company to facilitate the engineering design and based the team in Singapore where the idea was incubated at the university, with access to the latest technology and machinery from Korea. This is where they nally developed their invention into a feasible product that had the potential to change the world. From its humble beginnings in a university dormitory in Pakistan, EveryWater has evolved into an award-winning technology startup, enabling thousands of people to access clean drinking water. Through a smart, sustainable, and highly e cient ltra- tion technology invented by the three partners, EveryWater aims to restore the fundamental human right to clean drinking water for everyone, every- where, every time. EveryWater offers a portable, cost-e ective, o -grid lter that can clean 10,000 litres of water from all water-borne bacteria, viruses and contaminants. It can be attached to a faucet or a bucket, it’s as simple as that. Over the period of five years since its inception, this technology has ensured clean water to people across Pakistan, India, Africa, and South America during water borne epidem- ics and disasters. “We don’t look for business that M urtaza Hashwani grew up in a family that believed in helping others and making a difference in the world. Through Hashoo Foundation, the family are actively involved in empowering communities by facilitating opportu- nities to become independent and creating a greater social impact. As the chairman of Hashoo Foun-arabianbusiness.com 41 Liquid of life EveryWater offers a portable, cost-effective, off-grid lter that can clean 10,000 litres of water from all water-borne bacteria, viruses and contaminants Safe drinking water EveryWater has pioneered a ground-breaking new ltration technology creates social impact, we look for social issues that have a potential to create a business,” Hashwani says. According to a study by UNICEF, in 2020, 3.6 billion people lacked safely managed sanitation services, 2.3 billion lacked basic hygiene services and more than 2 billion live in water-stressed countries with lack of access to safe drinking water. Seventy- ve countries reported water e ciency levels below average, including 70 with extremely low levels. EveryWater provides the most a ordable solution of giving clean water without water-borne bacteria and contaminants to developing coun- tries and communities. “Solving one of the critical United Nations Sustainable Development Goals while launching an innovative and a ordable solution was a no-brainer,” Hashwani adds. Over the course of last six years, the project has won numerous awards for their innovative and a ordable tech- nology including; Winner of Young Water Fellowship, Young Water Solu- tions; Winner of Commonwealth Awards for innovative projects deliv- ering sustainable development in the winner's countries, 2020; National Award for the most innovative technol- ogy of the year, Pakistan among others. So how does the technology work? E ve r yWa ter ha s p i o neer e d a ground-breaking new ltration tech- nology – an intrinsically anti-microbial membrane ready to provide safe, clean water through a range of household and industrial products. Created using innovative ERM (Esoteric Resistive Membrane) tech- nology, thousands of intrinsically anti-microbial hollow ber membranes work together to make one highly effective filter that delivers clean drinking water. Each hollow fiber membrane is intrinsically anti-micro- bial, meaning every part of it is made to fight harmful bacteria, cysts and viruses. Finely controlled pore sizes ensure contaminants stand no chance, with 99.9999 percent of them blocked from going any further. With this revolutionary ERM lter, created by the team of EveryWa- ter is capable of purifying 400,000 litres of water and cleaning up to 99.9999 percent of contamination from one lter. The recent devastation caused by oods in Pakistan left over 3 million people homeless and without basic amenities. Lack of clean drinking water was one of the major problems causing health issues among children and elderly and that’s when Every- Water, together with their sponsor partners, provided an affordable solution and relief to ood-stricken areas ensuring the availability of clean drinking to help prevent water- borne diseases such as cholera in such conditions. Impact investment is entering a whole new era, which may have seen the spike due to the pandemic but more and more business owners need to focus on it, says Hashwani. With the new generation fully behind support- ing companies and organisations who create a positive impact on the communities to global climate crisis, the world’s issues are way too big for only a handful of people to be mobil- ised. Every business owner needs to do their part in creating a chain of change because it inadvertently will impact their own growth. Every business owner needs to do their part in creating a chain of change because it inadvertently will impact their own growth | SUST AIN ABILI T Y technology the build-up of any bio- lm is prevented, ensuring the lter’s e ectiveness and fast ow rate are maintained. This results in clean and safe water, delivered quickly, easily and e ciently - instantly ready for drinking. This REAL EST AT E | 42 Vol. 24/05, May 2023 Islamic Coin: Inside the world’s rst Sharia-compliant cryptocurrency Haqq, which means ‘truth’ in Arabic, stringently abides by Islamic principles and traditions on nance, with the Islamic Coin being its native cryptocurrency Traditions The global Muslim community has grown to over 1.8 billion people, which represents a huge untapped market in the crypto world TECHNOL OGY | network which is compatible with thou- sands of applications worldwide. Haqq, which means ‘truth’ in Arabic, stringently abides by Islamic principles and traditions on nance, with the Islamic Coin being its native cryptocurrency. The currency, still in private sales mode, has been gaining support from venture capitals and nancial institu- tions. According to Islamic Coin co-founder, Mohammed Al Kaff Al Hashmi, this support will build the community’s trust and con dence in the currency’s traction before its public release. Al Hashmi said that the coin will be launched to the public in May, but did not specify a date. “We started with private sales mode for a reason. We don’t want people to think that we are using the word ‘Islamic’ to play on their emotions and then moving on to become an invest- ment in something they don’t know,” he tells Arabian Business. “We did some market research and BY TALA MICHEL ISSA There is always a need to have a clean environment where people can put their projects without having a doubt or thinking: Is this halal? Is this haram? Is this Sharia-compliant? T he world’s rst Sharia-compli- ant cryptocurrency, Islamic Coin, will be launched to the public this month, one of its co-found- ers reveal. But what makes it halal? Islamic Coin, still in private sales mode, operates on the Haqq Blockchain, a arabianbusiness.com 43 | TECHNOL OGY Executive Mohammed Al Kaff Al Hashmi, co-founder of Islamic Coin found out that Bitcoin, for example, has become the most famous and success- ful coin because they have the ‘first mover’ advantage, and it was the rst coin,” Al Hashmi says. “When you look at Ethereum, they were the rst to start smart contracts. So there is a common factor here: being a ‘first mover’ in something that addresses community needs. I came to the conclusion that if we want to do something successful and meaningful in the blockchain and crypto world, then we should bring something that we are the first movers in and then it should address the needs of and add value to the community.” Halal: A growing market The global Islamic finance market is expected to reach over $3.69 trillion by 2024, fuelled by a growing interest in Sharia-compliant nance. The Halal products market is projected to reach more than $4 trillion. “It’s not only about food anymore, it’s also about healthcare products, cosmetics, how to make sure that every- thing is really Halal and fits with community ethics and values,” Al Hashmi says. The global Muslim community has grown to over 1.8 billion people, which represents a huge untapped and “underserved” market in the crypto world, says Al Hashmi, adding that Islamic nance is being embraced by non-Muslims worldwide. Interestingly, at least 50 percent of private sales made in Islamic Coin came from non-Muslims. “There is no clean ecosystem and environment where Muslims or people who follow Sharia compliance can come and do their projects in.” “By this, I don’t mean that Bitcoin or Ethereum or other coins are not halal. I cannot judge, but if you look at the available blockchains in the market, it will not make sense that for example, I put a Sharia-compliant project in a blockchain that at the same time has a casino project, a gambling project, or another project that charges interest – these would all con ict with Sharia principles.” Ten percent of every minted Islamic Coin goes to Evergreen DAO, a non-pro t virtual foundation focused on long-term sustainability and community impact, to fund community projects. However, the coin’s co-founders don’t decide on what projects should be funded. “We don't have any in uence over Evergreen. It has its own system, which will be launched in Q3 of this year, and the community will be able to vote for the projects to be funded. Then it will go to the Sharia board to make sure it is Sharia-compliant.” Islamic Coin has appointed a Sharia board to decide whether a proj- ect is compliant with Islamic princi- ples, which Al Hashmi says includes the “top ve” experts in the region. The board includes 40 banks, includ- ing Standard Chartered, Abu Dhabi Islamic Bank and Dubai Islamic Bank, among others. “When we say this, people think that we are trying to indirectly centralise it but that’s not true because everything is welcome to put their project on our blockchain. But we have created something called the Sharia Oracle,” he explains. “Once you put your project in our blockchain, it is decentralised, we cannot say no to anyone so long as the project is Sharia-complaint.You would need to go through the Sharia Oracle. First, the community would vote for it, then it will go to the Sharia court. Once that’s happening, you get a badge or a sign that you’re screened and Sharia-compliant.” “If you don’t have it, you still can run your project on Haqq blockchain but you will not have that mark that guar- antees trust with the community.” The Sharia-compliant cryptocur- rency is also targeting non-crypto native people, meaning that it will be relatively more resistant to the e ects of the crypto winter – when the market goes through a tough period of company collapses, major nes or massive drops in token prices. “Stay tuned. This project is going to have a very big future.” $3.69TR The projected value of the global Islamic nance market by 2024 “There is always a need to have a clean environment where people can put their projects without having a doubt or thinking: Is this halal? Is this haram? Is this Sharia-compliant?” The Haqq blockchain is eco-friendly and has been built in a way that is compatible with Ethereum, making it easy for people who build their projects there to migrate them somewhere else or integrate them. Digital currency Islamic Coin has appointed a Sharia board to decide whether a project is compliant with Islamic principlesSUSTA I N A BILITY | 44 Vol. 24/05, May 2023 Digital inclusion and diversity are key to future policy success The internet and connected devices can be a solution, but adapting to them is also a problem Empowerment DCO believes that digital inclusion is not just a trendy topic, but something that affects every single one of us 20%+ The contribution of the digital economy to the UAE’s GDP by 2031, according to government gures TECHNOL OGY | The barriers for communities to become more digitally savvy are not something that can simply be overcome by single individuals. As our latest Digi- tal Cooperation Organisation (DCO) report ‘Bridging the Gap’ has found, the two main reasons for this are the cost of technology being too high followed by a lack of training. Let’s have a deeper look into what that means. The cost of devices and internet use still represents a major barrier to connectivity. Recent reports reveal that the share of income spent on telecommunication and internet services worldwide increased in 2021 after years of steady decline, mainly due to the global economic downturn triggered by the Covid-19 pandemic. This increase was particularly devas- tating for those in the poorest house- holds, rural and lower income states, where the long-standing trend of gradually declining prices for these services was outweighed by a steep drop in average Gross National BY DEEMAH ALYAHYA, SECRETARY GENERAL OF THE DIGITAL COOPERATION ORGANISATION (DCO) A s I follow the headlines about digital advancements, I am lled with a sense of excite- ment and urgency. I wonder, how can we, as a global community, stand by and watch as millions of people are left behind in the digital age? How can we justify the fact that around 35 percent of the world’s population still does not have access to the internet?arabianbusiness.com 45 Challenges Around 35 percent of the world’s population still does not have access to the internet A whole new world We can build a future where digital inclusion is not just a goal but a reality, AlYahya says Income levels in 2020. This means that children and young people in these communities are falling even further behind their peers in terms of digital inclusion, with fewer opportunities to catch up and disproportionate expo- sure to poverty and unemployment. It’s a heartbreaking reality that we cannot ignore. I’m a big fan of data and the recent ndings of our reports, the DCO team has accomplished. But it’s also worth saying that these are not just statistics. They represent real people and real lives with missed opportunities. They represent the farmer in a remote village who cannot access live data that could be crucial to his business, the young girl who is unable to even learn about opportu- nities and skills she does not know exist, and the older person who is feeling alone and disconnected from the rest of the world. Let me invite you on a journey to a rural area in Jordan, where a young girl lives. Let’s call her Mariam for this purpose. Mariam does not know yet what she wants to do in the future. But one day, everything changes, as she attends a SkillsLab programme. The partnership initiative between Micro- soft, the Crown Prince Foundation of Jordan and the Ministry of Digital Economy and Entrepreneurship, shows Mariam what is possible with the right digital skills. Suddenly, she has a vision of something she did not even know existed before and she feels empowered to take her journey one step further by applying for an intern- ship in coding. One opportunity is opening a whole set of other opportu- nities. A new outlook to a bright future becomes possible to her. This is just one story of the many lives that could be transformed if we work together to close the digital divide. Let us continue to imagine a world where all people have access to the digital tools and resources they need to thrive. At the DCO, we are driven by a sense of urgency to address these disparities in the digital divide and ensure that everyone can prosper in our global digital economy. We believe that digital inclusion is not just a trendy topic, but something that a ects every single one of us. Our work is challenging, but it is necessary. We are tirelessly working with key stakeholders and organisations to build partnerships with governments and everyone involved, including NGOs and private sector organisations to amplify our impact, to think big and execute bigger, to launch impact initia- tives, or to provide digital skills training to those who need it most. But we cannot do this alone. We need a global movement of people who are committed to digital inclusion and who are willing to take action. We need policymakers who understand the critical importance of connectivity and who are willing to invest in the infrastructure and resources needed to close the digital divide. We need businesses who recognise the bene ts of a more inclusive digital economy and who are willing to take steps to ensure that everyone can participate. Together, we can build a future where digital inclusion is not just a goal, but a reality. It is critical to ensure that everyone can learn, grow, participate, and prosper in our digital economy. Only together, we can create a world where the bene ts of digital technologies are shared by all, not just the privileged few. We need a global movement of people who are committed to digital inclusion and who are willing to take action | TECHNOL OGY $140BN The projected growth of the UAE’s national digital economy by 2031TECHNOL OGY | 46 Vol. 24/05, May 2023 Metaverse jobs: How Web3.0 will upend the future of work As the world continues to shift, jobseekers will need to adapt to the next evolution of technology, the internet, and their working lives Emerging tech As the world continues to shift further into the digital space, there is a growing interest in the metaverse, posing questions about how this will impact job creation TECHNOL OGY | The world is undergoing a seis- mic shift towards the digital realm, and as the lines between the physical and virtual blur, a new reality is emerging - the metaverse. As the world continues to shift further into the digital space, there is a growing interest in the metaverse, posing lots of questions about how this will impact job creation and the future of work. The metaverse is no longer just about gaming and entertainment, as many have been led to believe. This may seem like science ction, but it is rapidly becoming a reality, and it has the poten- BY TALA MICHEL ISSAarabianbusiness.com 47 | TECHNOL OGY Skilled engineer Sam Huber, CEO of metaverse real estate company LandVault tial to revolutionise the job market. But what if you could work from an entirely virtual space, free from the constraints of the physical world? This is the promise of the metaverse, a virtual reality space that will revolu- tionise the job market, experts tell Arabian Business. From remote collaboration to virtual goods creation and even new job titles, the possibilities are endless. But as with any new technology, there are also concerns about privacy, security, and accessibility. As we continue to navigate this new frontier, it's clear that the metaverse holds a lot of promise and, according to experts, it will give rise to new opportunities for remote work, new roles that didn’t previously exist, more immersive virtual events and unprecedented avenues for digital collaboration. The next evolution of the Internet? Accenture’s managing director, Bashar Kilani, tells Arabian Business that as metaverse adoption continues to evolve, he expects jobs to be made available in four key sectors: tourism, government services, education and real estate. “I think we will have to reimagine a lot of the things that we do today and start to imagine doing them in a di er- ent way in this new 3D world,” he says. “So definitely, the world will still need doctors, teachers, engineers, jour- nalists, and many other professions, but the tools that are available for these professions are going to be di erent and enabled, and that – like in every one of the phases of the internet – has given profound change to these roles.” According to Kilani, the internet has gone through di erent phases of evolu- tion in the last four decades. Initially, it was the internet of data in the 90s, followed by the internet of people with social media in the early 2000s where people were able to connect and share digital assets. This was then followed by the rise of the Internet of Things, as mobile devices became more widely equipped with sensors, cameras, and microphones transforming our lives in various ways. Each of these phases has experiences, own and exchange assets, and seamlessly connect between the real and virtual worlds. Most in-demand metaverse jobs Several jobs are expected to come with the growth of this new emerg- ing sectors, says Sam Huber, CEO of metaverse real estate company LandVault. These include metaverse archi- tects and 3D designers who will be responsible for creating the immer- sive and interactive virtual environ- ments that make up this new world. “Currently, I see industries such as video games, virtual and augmented reality, ecommerce, and creative industries as some of the top areas hiring for metaverse positions. As the metaverse continues to expand, we expect to see even more industries begin to hire for metaverse positions,” Huber tells Arabian Business. Software engineers and develop- ers with expertise in blockchain, smart contracts, and decentralised applications will be essential to build- ing and maintaining the metaverse infrastructure, he adds. Other in-demand roles may include UX/UI (User Experience and User Interface) designers, digital artists and animators, data scientists and analysts, marketing and commu- nity managers, as well as strategy consultants and legal and compliance experts to navigate the ever-changing regulatory landscape. “We de nitely need these [tech] pioneers who set the strategy, who are able to provide the vision for it, but also de ne a responsible world – they have an important role and responsibility. And this is why you have, for example in the UAE now, the Virtual Assets Regulation Authority (VARA), which is kind of regulating how we're going to exchange and handle these di erent assets,” Kilani says, adding that the role of the practitioner will be essential. “These [practitioners] are the people that will capture value in this new world.” Adding to this, Kilani says he expects the metaverse will create new | TECHNOL OGY $5TR The estimated value of the metaverse by 2030, according to a study by global management consulting rm McKinsey & Company had an impact on both our personal and business lives. The metaverse, he says, is the next evolution of the internet, where users will be able to inhabit and enjoy 3D Corporate executive Bashar Kilani, managing director at Accenture Recruitment consultant Jack Killeen, tech recruiter at multinational recruiting rm Hays48 Vol. 24/03, March 2023 TECHNOL OGY | experiences for the healthcare sector, potentially changing the way patients and doctors interact, and giving rise to new tools, changing the way hospi- tals might look like in the future which might even include a virtual ICU in one’s home using IoT and data to engage with practitioners virtually. “We will also reimagine universities, schools, malls, and shopping experi- ences so these are really the practi- tioners that are there to help us capture the value and create new experiences. In this, they de ne strategy and prod- ucts, they articulate how we are going to exchange and deal with these new environments and see how that works.” According to Jack Killeen, technol- ogy recruiter and consultant at multi- national recruiting firm Hays, the metaverse will give rise to jobs that did not previously exist such as virtual economists, virtual law specialists and AI developers for virtual personal assistants. What does it take to secure a job in the metaverse? “To secure a job in the metaverse, candidates should possess a strong combination of technical skills, creativity, and adaptability,” Land- Vault’s Huber says. The metaverse expert outlined some important qualifications for those interested in pursuing a career in this field. These include having relevant experience or degrees in fields such as computer science, design, or digital arts, pro ciency in programming languages, 3D model- ling tools, and game engines like Unity or Unreal Engine, and familiarity with blockchain technology, cryptocurren- cies, and decentralised applications. Additionally, strong problem-solv- ing and communication skills are essen- tial to collaborate e ectively in remote, multidisciplinary teams, he explains. Knowledge of augmented reality, virtual reality and mixed reality as well as familiarity with UI and UX, and good old project management skills are necessary to create and operate a metaverse experience, Huber explains. Finally, Hubert says that a genuine passion for the metaverse and a curi- osity to explore its potential is a must for anyone interested in working in this exciting and rapidly evolving eld. Professionals in various sectors will operate in the metaverse by creat- ing value or performing, Kilani says. He explains that creating value can be done through creating digital assets By implementing its metaverse Strategy, Dubai could cement its position as a top spot for tech talent, speci cally in the realms of metaverse and Blockchain Contributors Software engineers and developers will be essential to building and maintaining the metaverse infrastructurearabianbusiness.com 49 | TECHNOL OGY or “anything that is of value” by making a product available for consumers. As for performers, he argues that those who fall under this category will be teachers and doctors, who will create a certain experience that bridges the real world with the virtual world. “I would say in every one of the internet phases we had our jobs evolve and develop. Some of these jobs didn’t exist, some new jobs were created. But it’s all about the ability to develop and learn new skills, and of course, there are minimum skills in the digital economy that people need to have in addition to their industry knowledge and capabilities.” “As companies look to grow in the metaverse, metaverse and Blockchain developers who specialise in Web 3.0 are in high demand,” recruiting consultant Killeen says. The recruiter, who specialises in the technology sector, also adds that 3D graphic designers with experience in computer animation, game engine developers and network program- mers are also highly sought-after. “The expertise which are expected to be sought-after include creating engaging virtual worlds, with exper- tise in 3D graphics and computer animation, as well as pro ciency in game engine development using the popular Unity and Unreal Engine plat- forms,” Kileen explains. “A strong grasp of network programming is crucial for enabling real-time communication among users, and familiarity with AR/VR technologies is essential for produc- ing convincing virtual environments. Candidates possessing extensive knowledge in these areas can expect t o b e h i ghly s ough t -af ter a n d command higher salaries.” Dubai’s metaverse strategy The government of Dubai in recent years launched many initiatives to attract and retain tech talent. Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launched the Dubai Metaverse Strategy which aims to support the creation of 40,000 virtual jobs and contribute $4bn to the emir- ate’s economy by 203o. To support the strategy, the government has formed a dedicated task force to track the latest develop- ments in the digital economy and iden- tify opportunities within the metaverse. Dubai is already home to over 1,000 companies operating in the metaverse and blockchain sector, contributing $500m to the national economy. The Dubai metaverse Assembly, a global event taking place in September, will bring together regional and interna- tional experts to explore the potential of the technology. Dubai’s Virtual Assets Regulatory Authority has already entered the metaverse with the establishment of its metaverse HQ, while the Museum of the Future is developing and launching digital products on the blockchain platform. “With this strategy, there will be over 40,000 jobs introduced in the region, and increased interest in using AI-built technologies has already taken over certain sectors such as hospitality, economics and security,” Huber says. “Moving forward, I can only imagine this being the rst of many steps taken in the region to implement blockchain and AI models that would help enhance opportunities for individuals, which is really the ultimate goal.” Killeen says that consistent local and foreign direct investment in areas such as cyber, data and cloud resulted in “strong hiring activity across the sector”. According to Hays GCC Salary Guide 2023, the technology sector was the “most active sector in terms of hiring” in the Gulf region last year, with 77 percent of organisations increasing their headcount. “By implementing its metaverse Strategy, Dubai could cement its posi- tion as a top spot for tech talent, speci cally in the realms of metaverse and Blockchain.” $4BN The planned contribution of the metaverse to the Dubai economy by 2030, according to the Dubai Metaverse Strategy Parallel worlds The metaverse has the potential to revolutionise the job marketNext >