According to the Daily Planet, the Bank for International Settlements (BIS) released a report warning of the possible division and risks of private company dominance within the Metaverse, emphasizing the key role of public policy in safeguarding the future of the digital ecosystem. The report pointed out that without strategic supervision to ensure fair access, data privacy and consumer protection measures, the Metaverse's promise of economic revolution in areas such as gaming, e-commerce and education could be damaged.
The Bank for International Settlements calls on global regulators, central banks and policymakers to work together to develop regulations that promote innovation, protect users and maintain the integrity of digital transactions. The report advocates for more efficient and interoperable payment systems, emphasizing the importance of central banks and financial regulators in understanding and influencing the choice of payment instruments within the metaverse. At the same time, it recommends strengthening efforts to promote the interoperability of payment systems, prevent fragmentation, and ensure that the metaverse remains a competitive and inclusive platform. The report also emphasizes the role of central bank digital currencies (CBDCs) in ensuring that the metaverse remains an open, interoperable platform.
