The Metaverse is the reality that is created when cyberspace and virtual reality come together. Some say it’s a reference to a computer-generated virtual world, others believe it to be something different that occurs in parallel with real life. In the discussion of this idea, there have been several agencies, groups and some companies which have acted as governing bodies in these digital worlds. These agencies are crucial for keeping these simulated environments safe for everyone who participates. In order to maintain the safety of these systems, they need to remain under certain governance agreements and protocols.
- Censorship
Most modern government websites are censored. This has several effects, both positive and negative. For industries such as the media, this is a problem because they can no longer provide their services to their customers. Organisations such as Wikileaks have been terribly affected by this. With the metaverse, censorship would be much much harder to come by because it would have to be agreed upon between all participants of a system before an action could take place.
- Cybercrime Policy
There are currently numerous things that can be done on these systems which people do not agree with or do not want done on their systems. Cybercrime is constantly growing and affecting more and more people’s lives every day. A metaverse agency could help prevent this from happening by protecting people from harmful individuals or organisations.
- Shared Community Standards
These agencies will also help to provide meaningful and consistent standards for the system itself. They will create a place where all community members can learn about these standards and how they can be used in a responsible manner. For example, if you reject an advertisement on Google AdWords today, it could affect your entire account tomorrow because they’re tied together. Having a central authority within a system would allow for consistent policies across the entire system.
- Revenue Generation
By creating a central authority in these systems, they could also be used to generate revenue. Whether it’s through taxes on businesses or through providing protection, this money could help support the system and allow it to continue running into the future.
Potential Risks
- Power Abuse
Metaverse agencies wield great power within their systems, and with great power comes great responsibility. Unfortunately, power abuse is a common issue seen throughout history. It can come from individuals taking advantage of people or if the system is held by a corrupt or inefficient organisation that fails to fulfil its purpose. When dealing with the metaverse, these issues would be much harder to deal with because of the digital nature of it.
- Corruption
Corruption has been a common issue for all governments throughout time. For example, people in positions of power sometimes use their roles for personal gain or to promote a certain cause that they care about instead of doing what is best for their citizens. In most cases, we have not had set formulas for transparency or checks and balances in place which can lead to corruption from those who are supposed to subsequently protect us from it. With corruption already being so widespread in government, we should be careful about allowing this same type of organisation into one of the worlds that we take part in daily.
