What is the metaverse?

This is like a big virtual world where you can do all sorts of stuff. We’ll see how people get into it & why we need some smart rules to make sure things go well.

Utopir Admin

The metaverse will be like a super cool online world where you can easily switch between work, fun, shopping, hanging out with friends, and being creative, all in one digital place.

People are still figuring out exactly how this online world will look. Companies like Meta (formerly Facebook) are spending a lot of money to create an immersive experience. In this metaverse, you might wear special gadgets that let you leave the real world behind and dive into a completely virtual one.

Some people think of the metaverse as a blend of our real world and the digital one. It’s like adding digital stuff on top of what we see around us. Imagine the game Pokemon Go, where you look for digital creatures in real places using your phone – that’s a bit like what they mean.

Right now, the metaverse is mostly about making money. Big companies in gaming and tech are working fast to create it. Think of Facebook, Apple, Google, and Microsoft – they’re all trying to build their own metaverse using their massive tech resources.

But here’s the thing: this isn’t just about fun and shopping. Just like the internet changed the world in surprising ways, the metaverse could do the same, and even more. It might change how we use technology and how we connect with others and the world.

It raises big questions about our national and personal identities when people spend so much time in a virtual world alongside the real one.

How does the metaverse work?

How the metaverse will actually work is still a bit of a puzzle, but here’s a guess: It might give you one digital version of yourself, like a character in a video game. This character would let you do everything online in one place. Inside this digital world, you could have your own money, property, and stuff.

Now, this digital world could be completely made up, like a video game, or it might mix with the real world somehow.

In this metaverse, you could do all the things you usually do on different websites and apps without needing a bunch of passwords and accounts for each one. Some apps in China, like WeChat, already do this to some extent, where you can chat, pay, and even earn social credit all in one app.

Also, some people say games like Fortnite are like a mini metaverse. They have lots of players, their own currency, and you can trade stuff in the game.

But remember, we’re still figuring this all out, and what we know now might not be how it turns out in the end. As technology grows, people will come up with new ideas and ways to use it, so the metaverse could change a lot in the future.

How do you access the metaverse?

Right now, we can’t fully use the metaverse, but how we get into it later on will be super important in future. Will it be open for everyone to use, or will it be more controlled & business-focused?

Currently, we use screens like phones & computers to get into the digital world. But in the future, we might use cool stuff like headsets, gloves, watches, & even contact lenses. These gadgets will let us see, hear, & touch the digital world directly, without looking at a screen.

But here’s the thing: this new hardware can also give the metaverse more info about us. Fancy computer programs can gather all sorts of data, like our heart rate, how big our pupils are, what gestures we make, and where we’re looking.

So, while we’ll have more access to this digital world, the people offering stuff in the metaverse will know even more about us. They’ll know what we like, what we’re scared of, and what we want.

Right now, platforms use info like our likes, clicks, and shares to show us stuff online, sell us things, and share our info with other companies. When the metaverse becomes all about making money, there might be a big temptation to watch us even closer and know even more about us.

Who owns the metaverse?

Right now, there’s no metaverse that belongs to anyone because it doesn’t fully exist yet. But big tech companies are getting ready to be like the main door to the metaverse. They want to be the place you go to get in.

For example, Meta (formerly Facebook) has already spent a whopping $10 billion on their metaverse stuff and bought a company called Oculus Vision Tech in 2014 to help them. Other big companies like Walmart and Nike are also getting ready by protecting their brand names and stuff in the metaverse.

These big companies might try to be the kings and queens of the metaverse and keep control over everything. That could mean the metaverse is all about what they want and how they want it. Plus, if some countries or rulers make their own metaverses, they might control what you can say, see, or do there.

Another worry is that these tech giants could get super rich and powerful if they’re the first ones in the metaverse game.

But here’s the thing: If we let just the big companies run the show, they might only care about money and making things fun for shoppers, not what’s good for everyone. To make the metaverse fair and helpful for people, it should be open to everyone and made by lots of different people. We also need rules right from the start to protect our rights.

Regulation of the metaverse

Regulating the metaverse is a challenge because it’s not clear how it will work yet. Governments, businesses, and society need to work together to create rules that are fair and prioritize the public interest over corporate profit.

These rules should cover various aspects, like data privacy, protection of vulnerable groups, and intellectual property rights. They should also ensure that the metaverse doesn’t become a tool for excessive surveillance or concentration of wealth.

To make effective regulations, policymakers need a better understanding of the technology behind the metaverse and should collaborate closely with tech companies. The goal is to be proactive and prevent problems rather than reacting to them after the fact.

Since the metaverse will be used worldwide, international cooperation on standards and issues like competition and taxation is crucial. Liberal democracies can take the lead in creating responsible metaverse regulations by working with tech giants and holding them accountable under international human rights law.

Companies developing metaverse technologies should also take steps to identify and mitigate potential harms, be transparent about their activities, and be accountable for any negative consequences.

By doing this right, these measures could serve as a global standard for democratic countries to follow, ensuring a safe and equitable metaverse for everyone.

How will the metaverse change the world?

Just like the internet, the metaverse could bring us lots of good things, but it could also make some of our problems even worse.

Right now, governments and big companies are already keeping an eye on us on the internet, which can mess with our privacy and freedom. Social media can make things worse by showing us only what we want to see, even if it’s not true. And companies use our info to sell us stuff or shape our thoughts without us even knowing.

The metaverse might make these problems bigger, and we might run into new ones too. But there could also be some good stuff about it that we don’t know about yet.

What are the benefits of the metaverse?

The metaverse has the potential to bring lots of cool changes to many parts of our lives, not just games but also in healthcare, school, shopping, and art.

For instance, just like how the internet helps us share knowledge, the metaverse can make learning even better. Imagine smart computer programs that learn from how kids learn and make school more fun and interactive, whether it’s online or in person.

The metaverse is also a playground for fun and creativity. You can create your own awesome worlds and even make the real world cooler by adding digital art and virtual creatures. It’s like having your own magic paintbrush!

Are there any issues with the metaverse?

One big concern about the metaverse is that it’s mostly being driven by companies looking to make money. There isn’t much talk about how our future digital world should be, who should make it, what it’s for, and how it should be run.

On top of the human rights issues we mentioned earlier, there are other worries. The metaverse could make the digital divide worse, with some people not having the tech they need to join in. Plus, being in the metaverse might become really addictive and mess with our mental health.

It could even push some folks into doing bad stuff, like believing in wild conspiracies, getting into extreme politics, or trolling and gambling.

Also, if we end up with separate metaverses controlled by different countries, it could make people stick to their own groups and ignore other opinions. That’s not good for a healthy society.

But here’s the thing: We can learn from our past internet experiences and use those lessons to get ready for the metaverse. We’ve seen the problems caused by big tech companies getting too much power and not enough rules.

So, it’s important to make sure the metaverse doesn’t go down the same road. We need to be smarter about how we use technology and make sure it’s good for all of us.

Understanding metaverse technology might be tricky for some of today’s political leaders, but one thing should be crystal clear: just like dealing with climate change and preventing pandemics, the biggest hurdle to tackling this upcoming global challenge is the lack of international readiness and cooperation among governments.