Metaverse: Regulation and Standardization overview

In order to make the Metaverse a safe and successful place, we need to focus on two main things: rules and technical guidelines. Right now, there aren’t many rules for the Metaverse. To make people all over the world feel safe using it, governments should work together to create international rules.

Our researchers created the overview of regulation and standardization of the Metaverse and identified the elements of its effective governance.

 

In this summary, we want to share some key insights:

1. Effective governance of the Metaverse requires a combination of flexible regulations and technical standards.
2. Different phases of Metaverse development require distinct regulatory approaches.
3. Current regulations should focus on protecting competition and ensuring safety and privacy for Metaverse stakeholders while sub-universes remain separate.
4. Due to the ever-evolving nature of the Metaverse, it may take time to establish comprehensive laws and regulations.
5. In the interim, standards play a crucial role in facilitating communication, commerce, and collaboration among Metaverse stakeholders.
6. The development of standards, protocols, and economic frameworks will unite diverse sub-universes, leading to the digital transformation of various aspects of life, including learning, healthcare, and production.
7. Neglecting the development of standards in the early stages can make managing the Metaverse challenging after rapid expansion.
8. Currently, there is a lack of existing standards for the Metaverse, emphasizing the need for international collaboration by governments to ensure the quality and security of Metaverse-related products and services.

You can find full research in this presentation (LINK)

Best regards,

Vitaliy Goncharuk

WiseRegulation.org