Exploring the evolving security challenges within the metaverse
Note: OODA Loop has been tracking and reporting on Metaverse trends since 2003. But for many, including the author of a piece we summarize here, it was Zuck who gets credit for reintroducing the concept to us all:
In July 2021, Meta CEO Mark Zuckerberg re-introduced us to the concept of the “metaverse”, an interconnected virtual universe that promises to allow its users to immerse themselves in content rather than just viewing it. Touted for being able to add a new dimension to our lives, this VR world offers opportunities that are potentially world-changing, both for consumers and organizations. Zuckerberg’s vision to create a VR world that could change the way we connect or work with people has garnered huge interest, especially from brands or companies that are actively seeking new ways to expand their presence within the digital landscape. This environment aims to allow humans to interact socially and economically as avatars in cyberspace, which acts as a kind of metaphor for the real world, breaking down its physical or economic barriers. Therefore, many see the metaverse as the future of the internet, which is sometimes referred to as ‘Web 3.0’.
There is some good news and some bad news with the coming Metaverse. The good news is the incredible use cases this third wave of Internet capabilities will bring. It will have its own thriving economy for business. Estimates are that the Metaverse economy will be a $Trillion dollars within 3 years and a Twenty $Trillion dollars within a decade. It will be a primary means of educating our youth and delivering knowledge through life, and will be a leading form of social interaction, advice and assistance on a range of issues. And of course there will be incredible new forms of entertainment.
Now the bad news. There are serious threats and security issues to consider with the Metaverse.
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