Some good news out of the Far East, as South Korea’s Ministry of Science and ICT (MSIT) has drafted a proposal of principles designed to regulate the Metaverse, and is focused on protecting youth, personal information and copyright. With many of the leading tech companies such as Meta building the new paradigm, the Seoul government is aware of the possible dangers the Metaverse poses to users in regards to harassment, bullying and abuse if things are left to go unchecked.
Three Core Values
In the current draft — helped by the opinions and competence of experts, industrial sectors, governmental departments, and civic organizations — MSIT’s attention will be on three core values: protecting youth, personal information and copyright issues — all saliant topics as we enter the reality of Web3 — while outlining for the metaverse participants as an intact self-identity, safe enjoyment and sustainable prosperity.
MSIT has also put forward eight core principles to steer the Metaverse in the right direction as far as governance goes:
- Data protection
- Respect for privacy
A final draft of the principles — once the experts have had their input — will be drawn up by the end of the year, where it will then be applied to relevant use cases of the Metaverse.