The metaverse has been raised twice at major political meetings in China. Recognizing the potential power of this sector, the Chinese delegates attempted to regulate it in the course of their discussions. They consider that it is essential to take urgent measures to prevent data security breaches and speculation.
The appearance of the metaverse has some drawbacks
The metaverse is becoming more and more popular in China, causing some anxiety. Chinese leaders are now realizing that their rapid expansion has ramifications for the country. The government is well aware of the data security concern that the industry is experiencing.
The government has recognized the need to regulate data security and information protection in this rapidly expanding industry. Furthermore, the assumption prevails throughout the metaverse. In China, this industry is plagued by fraud and unethical fundraising practices. Scammers are increasingly inventing fictitious metaverse projects to steal money.
The Chinese government is taking measures to deal with the situation. MP Kong Falong proposes the creation of a national metaverse research institution. Sponsors of illegal operations in the area will also be targeted.
What is the best way to build the metaverse?
The Chinese government hopes to contribute positively to the evolution of the metaverse while ensuring its regulation. According to local news reports, MP Kong believes China’s technological growth in the metaverse business should be encouraged. According to the People’s Daily, a fund of 158 million dollars has been created to help promote this company in the future.
The Beijing Tongzhou government has taken measures not to be left behind in the development of the metaverse. He intends to defray the costs of any job center that is established in his district for the purpose of working in the metaverse.
Chinese authorities quickly realized that the metaverse posed a threat to their privacy. It is also worth noting that as the industry advances, more and more guesses are discovered. For this reason, he decided to manage the metaverse to prevent these events from getting out of hand. Gleichzeitig, intends to contribute significantly to the development of the sector.
