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    The Metaverse Thrives In China While Interpol Wants To Police It

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    China continues its efforts to build a metaverse roadmap to develop various industries. This is in line with a three-year action plan launched last year to put the Asian giant at the forefront of this emerging technology. We recently established a working group to make this dream a reality. Meanwhile, Interpol has just published a new white paper exploring the new opportunities and challenges unleashed by this emerging industry.

    According to the report, Global Times, China has just formed a 60-member working group made up of officials from China's companies, universities, and institutions. Some of the major companies participating in this initiative include Huawei, Tencent, Baidu, and Ant Group.

    This team is responsible for creating and revising industry standards for the Metaverse. The new framework will focus on research into the integration of technologies that blend the digital and physical worlds to strengthen the manufacturing and communications sectors. It will also focus on combining the Metaverse with artificial intelligence and blockchain to generate “digital humans” for virtual assistance, entertainment, and virtual avatars.

    Technology industry analyst Liu Dingding believes that the convergence of the Metaverse and digital humans could help companies reduce costs and improve productivity. Meanwhile, Chinese company CCID Consulting predicts that the Metaverse will play an important role in revitalizing industry, cultural tourism, education and other sectors this year. In China, the AI ​​industry will grow to 1.73 trillion yuan ($240.45 billion) by 2035, and the AI ​​market will grow to 180 billion yuan ($25.02 billion at current exchange rates) by 2026. We estimate that there is a possibility.

    China's large-scale foray into the Metaverse realm was demonstrated at the 2019 lighting ceremony.th Virtual celebrity presentations for last year's Asian Games in Hangzhou, Zhejiang Province and the 2022 Beijing Winter Olympics.

    A broader application of the Metaverse is also being adopted by Interpol. Based on that new white paperthe law enforcement agency of 196 member states, plans to utilize the technology for training, investigation, and forensic purposes.

    International law enforcement agencies expect this industry to grow to $13 trillion by 2030. But as new opportunities open up, we also expect new threats to security and other ethical concerns.

    With this in mind, this paper likewise examines how platforms can be monitored to ensure user safety. Crimes that appear to be common in the Metaverse include non-fungible token (NFT) fraud, cyber-physical attacks, identity theft, digital asset theft, stalking, sexual harassment, and child grooming.

    Source: Interpol

    final thoughts

    With these developments, the Metaverse is not dead after all, as some naysayers say. As seen in China's rise, there is hope for more in this thriving industry. But there are also legitimate threats to consider along the way, and this is where Interpol's new white paper review comes into play.

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