LAWS TRANSFER TO THE METAVERSE. Legislation is a fascinating topic as far as the Metaverse is concerned; we know that some Law regulates everything that happens on the Internet.
What is often confusing is that the Internet is found worldwide, where a set of laws from different jurisdictions come together, which makes the rules met according to the geographical location of the users.
LAWS TRANSFER TO THE METAVERSE
Companies providing internet connection services always establish user policies and restrictions. There will always be solutions to the inconveniences that may occur for the user.
That is why future users of the Metaverse question how the Metaverse can be regulated if it is assumed that it is a decentralized virtual reality world, where participants can carry out any activity, but under what terms and conditions? Learn More here on how to trade crypto.
Many aspects must be clarified when establishing a regulation that regulates the Metaverse and allows its users to have security and support when generating any controversy or inconvenience that requires legal help.
Who controls the Metaverse?
The Metaverse has perhaps become one of the most exciting promises offered by the technological environment in terms of what is known as Web3, where the Internet will evolve, where maybe the protagonists are the large corporations that could even create a new computer monopoly.
Large companies such as Meta, Apple, Google, and Microsoft are some of the names that have been most involved in developing this new virtual reality proposal, where economic and technological interests can be confused when establishing the benefits of each of these companies.
It is impossible to ensure that, at this time, there is not a specific person or company that controls the Metaverse since there are too many interests around this new ecosystem, not only technological but financial.
The main characteristic of the Metaverse is that it is based on Blockchain technology, which is usually decentralized; therefore, every one of the operations carried out there should not be regulated.
This situation calls into question Metaverse’s possible legislation since establishing laws and regulations requires a regulatory entity, which, even in anonymity, exercises its controlling function.
There are many operations and companies that will operate within the Metaverse. They must comply with legal parameters that may differ from those of the natural world but that, in one way or another can generate security when making purchases, sales, and digital money transfers, as well as using the digital spaces that this platform offers.
Until now, the various platforms that exist demonstrating what the Metaverse could be are created by companies. In turn, these digital environments are governed by the rules and controls these organizations establish.
It could be said that the legislation and control of the existing platforms are executed by the privacy and content policies, the conditions of use, copyright, and codes of ethics.
Legal conflicts in the Metaverse
The Minister of the Government of Singapore has recently made a statement indicating that the process of litigation and resolution of legal problems could be faster and more effective through the Metaverse.
This proposal makes us consider the option that a whole compendium of legal elements could be transferred to the Metaverse, such as installing courts and government services that facilitate legal processes.
This option is attractive because legal activities in the real world could be merged into a decentralized and utterly digitized ecosystem.
Marriages, divorces, and corporate litigation could reach the Metaverse and take place quickly. In addition, it would speed up the processes since they are often limited due to time, space, or transportation.
The first marriage in a Metaverse setting
The leading platform was Decentraland, which prepared the first virtual wedding where more than 2,000 invited people participated in its virtual space. The corporate group of lawyers that carried it out was Law Group.
It is the first marriage union that takes place in a Blockchain ecosystem; this could promote the performance of legal activities that are considered legal in the Metaverse.
Interestingly, legal processes could be digitized and offer citizens a faster and more efficient option for processing any lawful act without having to be part of a bureaucratic set of actions to get it executed.