TRENDS study warns of security, safety and privacy concerns in the Metaverse world

Trends Research and Advisory has released a survey entitled "Guardians of the Metaverse: Maintaining Security, Safety, and Privacy in the Digital World." The study explored the challenges and opportunities associated with the rapidly evolving metaverse world and aims to support policy discussion that establishes a balanced regulatory framework for the metaverse. Such framework shall ideally balance technological advances with ethical standards. It would protect individuals' digital identities in light of the dangers of technologies such as "deepfakes" and AI manipulation of information.

The study, by Muttahir Salim, associate director for security at Buro Happold (Middle East), warned that the metaverse world, despite its enormous potential, with an expected value of US$5 trillion globally by 2030, also faces significant security, safety and privacy risks. Examples include the prevalence of cybercrime, fraud and exploitation.

The study referred to the pioneering European efforts in the field of developing a strong regulatory framework for the metaverse, through effective laws, such as the Digital Services Law, the Artificial Intelligence Law, the Data Governance Law and the Platform Supervision System. The study stressed the need for each user, whether public or private, to set their own standards for protection within the metaverse.

The study called on countries around the world to look forward to a future where the metaverse thrives through innovation, while taking proactive action to address emerging risks and ensure a safe and inclusive experience for all.