China to introduce a new social credit system for the metaverse

China Mobile, a state-owned telecom, has proposed a digital ID

The new regulation could majorly influence telcos and tech firms
The new regulation could majorly influence telcos and tech firms

According to Cointelegraph, China expects to implement a system akin to its social credit system in the metaverse and other online virtual worlds.

With insights from POLITICO published on August 20, 2023, China Mobile, a  state-owned telecom, has proposed a digital ID. It is expected this digital ID needs to be used by all metaverse and online virtual world users working with “natural characteristics” and “social characteristics.”

The proposal is expected “to keep the order and safety of the virtual world.”  Supposedly, the ID would maintain personal information and identifiable signs including a person’s job and suggest that such data needs to be permanently stored and shared with authorities, Cointelegraph added.

It is expected that if the bill is passed, it could majorly influence telcos and tech firms. Furthermore, it is believed that the International Telecommunication Union (ITU) metaverse group is planning to develop new standards for metaverse services, Cointelegraph concluded.

(With insights from Cointelegraph)

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This article was first uploaded on August twenty-one, twenty twenty-three, at thirty minutes past seven in the evening.
Market Data
Market Data