“I dreamed of another world…” – The Telephone group dreamed of another world and another Earth “ less down to earth “. Recent developments in Web3 are proving them right! In fact, not a day goes by without seeing new developments in the sectors of metaverse and NFT. Lately it’s South Korea which shows a growing interest in these technologies despite unfavorable taxation to cryptocurrencies. Direction Seoul to the “Land of the Morning Calm” to take stock.
South Korean authorities have decided to embrace the future of Web3 andinvest massively in the metaverse. In the program “Digital New Deal” who wishes to develop new technologies, the government is therefore putting 177 million dollars on the table.
This program is run by the South Korean Ministry of Science, Information Technology and Communication. Lim Hyesook – the minister in question – referred to the metaverse as “unexplored digital continent with indefinite potential”. And it is first of all at the municipal level that a platform will be set up in Seoul to enable citizens virtual access to public services.
The government of Yoon Suk-yeol – newly elected last May – therefore has as partner and logistical support the research company Everest Group. One of the group leaders –Yugal Joshi – welcomes the commitment of a State in research and offers the beginning of an explanation:
…while being aware of the risks inherent in the emerging Web sector3
“It’s interesting (…) because mainly we see initiatives from the private sector. Governments haven’t done much beyond South Korea. (…) This tells us that governments are starting to take this more seriously because [finalement] it is a platform where people come together. And anything that brings people together interests governments. »
Inasmuch as spectator Privileged at the heart of developments, Yugal Joshi notes that more and more initiatives are being launched in China and the rest of Asia but that:
“How governments will use it is still undecided because the whole ecosystem is still under construction. »
Javier Floren – CEO of the start-up NFT DNAverse – also adds that countries that “ experimenting with these new technologies will understand them better in the future”. And he goes on to explain that governments will have to “change their mindset a bit”. This is to take into account both the opportunities but also the risks intrinsic to Web3. And he lists ” protection of user privacy, threats of scams » but also ” protection of personal data, illegal behavior and respect for intellectual property.”
It is to anticipate these potential abuses that the government also plans to create a regulatory body supervising various ministries. And it is even rumored that Seoul would be in favor of collaboration between different states to protect users. It must be said that the Korean authorities are barely recovering of the Terra Luna scandal which has seriously tarnished the reputation of the country. ” I dreamed reality » sang Bertignac and Aubert…will reality look like a dream or a nightmare? Beginning of response in South Korea in some time.
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