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News Junction > Blog > Cryptocurrency > Metaverse On Watch: China Reportedly Considering Integration Of Social Credit System
Metaverse On Watch: China Reportedly Considering Integration Of Social Credit System
Cryptocurrency

Metaverse On Watch: China Reportedly Considering Integration Of Social Credit System

Published August 21, 2023
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Contents
China’s Metaverse And International Implications Balancing Innovation And Privacy

The metaverse, a digital realm where individuals immerse themselves in virtual universes and online experiences, has garnered significant attention for its potential to reshape how we interact, work, and play. 

However, as the metaverse gains momentum, China’s reported plans to implement a system resembling its infamous social credit system within this virtual landscape are causing widespread concern.

According to a recent POLITICO report, China is considering the implementation of a digital identification system for users of the metaverse and other online virtual worlds.

State-owned telecommunications giant China Mobile is said to have proposed a digital ID that encompasses both “natural characteristics” and “social characteristics” of users. 

The suggested information would be stored permanently and shared with law enforcement agencies, ostensibly to maintain order and safety within the virtual realm.

This move raises alarm bells about personal privacy and surveillance. If enacted, it could have profound implications for the metaverse’s evolution, as well as the broader conversation surrounding online freedoms. 

The integration of a social credit-like system in virtual spaces is seen by experts as a potential infringement upon the cherished principles of privacy and freedom to connect that have been integral to the internet as it is known in much of the Western world.

China’s Metaverse And International Implications 

These proposed changes are currently under discussion within the International Telecommunication Union (ITU), the United Nations’ telecommunications agency responsible for establishing global technology regulations.

The ITU’s metaverse focus group, formed in December 2022, aims to be a central platform for tech experts, regulators, academics, NGOs, and technology companies to formulate standards for a fully immersive internet experience.

China’s proposal is set to be deliberated in October, and its outcome could set a precedent for the metaverse’s future. If the proposal garners support and becomes a standard, it might significantly impact telecommunications companies and tech firms worldwide, influencing their approach to metaverse services.

As of today, the market cap of cryptocurrencies stood at $1 trillion. Chart: TradingView.com

Balancing Innovation And Privacy

As discussions intensify around the metaverse’s potential and pitfalls, the world faces a delicate balancing act. While technological advancements offer exciting opportunities for human interaction and creativity, they must be pursued with ethical considerations in mind.

The virtual world’s success hinges on preserving individual rights, personal privacy, and the democratic values that have underpinned the internet’s growth.

Ultimately, the decision regarding China’s proposed digital ID system within the metaverse will reverberate far beyond virtual realms. It will reflect the ongoing struggle to harmonize technological innovation with fundamental human rights, ensuring that our journey into the metaverse is one marked by progress and safeguarded freedoms.

Featured image from Mashable

#Metaverse #Watch #China #Reportedly #Integration #Social #Credit #System

TAGGED:ChinacreditintegrationmetaversereportedlysocialSystemwatch
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