This initiative will address regulatory deficiencies in the Metaverse concerning privacy, custodianship, censorship, accessibility, and monopolisation.
BRUSSELS, November 23, 2022 — The International Association for Trusted Blockchain Applications (INATBA) launching a joint Task Force focusing on the Metaverse Regulations
The Metaverse is viewed as heralding a new age in the web experience, combining standard internet experiences into linked, immersive virtual and augmented reality worlds while interlocking digital ownership with blockchain technology. In business terms, the Metaverse is one of the latest buzzwords and a business opportunity many cannot pass up. As a result, many brands and retail-focused firms invested in metaverse-related activities across almost every industry.
INATBA’s Metaverse Task Force will investigate and compare risks, resulting in a list of evaluations that policymakers must make when developing Metaverse-related rules, such as privacy, custodianship, censorship, accessibility, and monopolisation. Thought leaders and Metaverse detractors have emphasized them and other fundamental problems, but no regulatory examination of these dangers has been done. INATBA’s Metaverse Task Force will be filling this gap.
“Our mission at INATBA is to push for consensus on the Metaverse’s operating principles: decentralised, interconnected, and interoperable, but also safe and trustworthy,” said Ricardo Simoes, Executive Director of INATBA. “We are excited to use the Metaverse to broaden INATBA’s reach and strategic position, which includes the Metaverse, NFTs, and other goods aligned with the blockchain sector and general consumer enterprise firms.”
The members steering this task force are Blockchain.com, Blockpit GmbH, BBVA, Docaposte France, EastNets, Global Wealth Strategies, Ltd, Lexxia Avvocati, KUNFUD, Socios/Chiliz, Tendermint and The Sandbox. In addition, the Government Advisory Body and Academic Advisory Body will sign in as observers.
This task force is exclusively for INATBA members. To become involved, please contact Xenofon Kontouris over Slack or email him at email@example.com.
Launched in 2019 by the European Commission, INATBA – International Association for Trusted Blockchain Applications, is a highly influential Association in advocating for Blockchain and DLT adoption in Europe and globally. INATBA is mainly known for its credibility with regulatory authorities and policymakers and is appraised for its contributions to Markets in Crypto Asset Regulation (MICA), Transfer of Funds Regulation (TFOR), electronic IDentification, Authentication and trust Services (eIDAS), CHAISE project, EU Pact for skills, our Governmental Advisory Body, and its passionate diverse global community of CEOs, CTOs, Heads of Policy, Public/Institutional Relations, Legal, Marketing & BizDev, Developers, Policymakers. To learn more, visit www.o.inatba.org.