The government plans to launch an “open Metaverse platform” powered by data and authoring tools so that anyone can participate and develop content. Through state support for the development of core technologies and content creation, the government plans to increase the number of companies specializing in the development of the metaverse to 150 in 2025.
The South Korean government has repeatedly raised growing concerns about how users interact online, including copyright, protection of the rights of minors and personal information. To this end, the country’s Ministry of Science and Information Technology (MSIT) has been tasked with formulating a set of rules and ethical principles that will form the basis for building the Metaverse ecosystem.
MSIT proposed three main values ​​for participants in the metaverse – the preservation of self-identity, security and comfort. In addition, the principles that should guide the inhabitants of the metaverse are proposed: autonomy, respect for privacy, reciprocity, fairness, data protection, inclusiveness and accountability.
The rules and ethics of MSIT have been submitted for discussion to bureaucratic departments, communities of industry experts and public organizations. The Ministry of Science plans to complete the discussion and present a final decision by the end of 2022.
In August, seven large financial companies submitted an application for the creation of a virtual asset exchange for preliminary approval by South Korean regulators. The companies said they have begun hiring R&D specialists for a wide range of digital assets, including non-fungible tokens (NFTs).
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
