Metaverse risks & consumer safety requirements highlighted in new whitepaper 🛡️

🌐 The Metaverse offers unprecedented opportunities for businesses and consumers alike. However, it also poses significant risks that must be addressed before it can be safely deployed.

📈 According to a new Whitepaper by Standards Australia and the Responsible Metaverse Alliance, the Metaverse has the potential to generate up to US$5 trillion by 2030. This presents a unique opportunity for Australia to become a global leader in the safe deployment of the Metaverse.

🛡️ To achieve this, the authors suggest that standards and regulations must be put in place to protect consumers' safety and privacy. This includes measures around experiential authenticity, emotional and behavioral privacy, and human agency.

👨‍👩‍👧‍👦 The paper highlights the need to safeguard vulnerable groups, such as young people, marginalised and disadvantaged communities, the elderly, and individuals with disabilities or health conditions. Immediate regulation and monitoring are necessary to prevent the serious dangers of an unpoliced and unregulated Metaverse, such as grooming and blackmailing of children.

🤝 Standards Australia intends to establish an expert committee to oversee and progress standards across the regulatory landscape, both domestically and internationally. By executing standards and regulations to keep Australians safe, Australia can set a benchmark for the world in this space.

#Metaverse #ConsumerSafety #Insights

Read the article: https://www.standards.org.au/news/metaverse-risks-consumer-safety-requirements-highlighted-in-new-whitepaper

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