Metaverse good or bad. It can make the world a better place or cause pain and destruction. It won’t be any different in the Metaverse. We can expect that any crime done in the real world will happen on the immersive internet and could even get out of hand. After all, criminals will be active wherever there is money to be made, and the Metaverse will be like an endless blue ocean where consumers, creators, and organizations can make money in a million different ways.
Online security is complex, which is a shame. Many companies don’t protect their (customer) data well enough, which has led to many examples of companies going bankrupt because of a cyber hack.
At the same time, there are cases of people killing themselves because of cyberbullying or online harassment.
Cybercrime is already causing problems worldwide, and it is expected to reach $10,5 trillion by 2025 as society becomes more digital and digital experiences become more complex. That’s a trillion, not a billion, and it’s more than the GDP of Germany, France, and the UK combined. It’s more than the entire global eCommerce or commercial real estate industry.
Is the Metaverse Dangerous?
The following is essential information regarding the risks associated with the Metaverse, is metaverse safe?
Unlimited Data Mining
Also, new technologies like big data analytics and artificial intelligence, along with the Internet of Things and social media, which constantly collect data, have created a “surveillance society” that the government or private companies can run.
Add to this the extreme data collection from AR and VR headsets, where the amount of data to be collected, abused, and sold is likely to be 100x what it is today. If we can’t create an open metaverse, we will soon live in a dystopian future where our data define our freedom, for better or worse.
Since data security and privacy haven’t been perfect on Web 2.0, it’s safe to assume that Web 3.0 won’t be much different, even though it will use distributed ledger technologies. If it’s up to Big Tech, the Metaverse will make it possible to capture and control data, identity, and wealth in infinite ways. All of this was done to make shareholders happy. If cybercriminals had their way, the Metaverse would be where they could always make money.
There will be a lot of problems in the Metaverse, such as unlimited data harvesting that hurts our privacy, constant abuse and harassment, imposter avatars trying to steal sensitive information, like your NFTs, widespread security breaches, biased AI, bots and trolls running amok, and more divided society, more inequality, and more physical and mental health problems.
From this point of view, we should be careful about how we want to move forward in the Metaverse. That won’t happen, though, because startups, organizations, people, and even criminals will all try to get a piece of the pie.
As a species, we have gotten very good at moving quickly and breaking things but less at going slowly and thinking first. Will the Metaverse cause many problems like the internet, or will it solve some of the issues? Will the constant flow of dopamine make people get hooked on an immersive world and like it more than real life? Is it what keeps the masses from wanting something much less exotic? Or is it just sugar and fat, which we need in small amounts?
When Zuckerberg announced Meta in October 2021, he also said privacy and security should be built into the Metaverse from the start. Privacy, safety, and ethics need to be at the center of the Metaverse, precisely what he said. However, Facebook defining the ethics of the Metaverse sounds a lot like a wolf in sheep’s clothing, especially after Frances Haugen’s testimony before the US Congress. An internet always on and everywhere can be a blessing or a curse.
Unfortunately, it will take a lot of hard work from consumers, regulators, and the companies building the Metaverse to keep the risks to a minimum. It’s not a free pass, and we shouldn’t think this will work itself out. It will need severe technical problems to be fixed, strict rules to be followed, and early education. It will be too late if we wait to build safety measures until the Metaverse is fully up and running.