○ metaverse It has become a hot topic in the field of digital technology. It will be a parallel world that combines virtual reality, augmented reality and artificial intelligence to simulate interactions in the physical world, as well as so-called big tech like Facebook, Google, Amazon, Baidu, Yahoo, Rakuten, etc. who intend to use virtual environments in advance, for different situations. Trying on and shopping for clothes at the store, attending concerts, or even taking part in hands-on activities in college classes, everyone can act with precision at the same time.
However, this “magic” scenario is risky. Based on a more accurate analysis, the market still does not appear to have identified these risks: Metaverse through the lens of ESG. Among other things, governance is the subject that guides and guides the principles of transparency and business rules.
Years ago, Orcut This has proven to be a very invasive tool and has a high chance of conflict between users as it allows viewing and interacting in configuration files without existing configuration, as well as without any permission Sign up without people viewing their profile and contact information on the web.
today Facebook Rotations are being done all the time, but we see news so often that we can say that, aside from the issue of personal data security, not everyone knows or understands what is behind the content they receive, which is the algorithm. What is tagged and characterized as inherent to social networks? Impact on social movements and control of disinformation (fake news), especially during elections, and in relation to data protection and user privacy.
It can be seen that today, the social network model we have is a “previous stage” in the evolution of the metaverse and no longer satisfies ESG-related topics. Without conscious governance, the metaverse is likely to be inherently ill with the social network model. This means we have a unique opportunity to create a more conscious platform to look at social networks, understand risk matrices, and create a metaverse through the lens of human-centred good governance.
It is not difficult to see why Metaverse is a “danger” for ESG practice. We can list a few that caught our attention in the first place:
- • False news: More Accurately Simulate Realistic Environments People are more susceptible to misinformation, unable to discern what is real and what is not.
- • Digital insecurity: We have experienced an increase in cybercrime and cyberattacks, and the theft of personal and corporate data. This fusion of different platforms that we have now facilitates criminal behavior. It’s not that hard to get information from your personal whatsapp, isn’t it?
- • democracy: The popularity of the Internet has led to the rise of extremist groups, stemming from confusion and debate on social networks, and a reluctance to dialogue.
- • Media hegemony: Consumption by global companies such as Facebook and Google will bring greater allocation of resources to these large groups, which is conducive to the formation of oligopolies that can devour traditional media companies. This has to do with content produced by the users of these tools.
- • Numerical exclusions: According to the Brazilian Institute of Geography and Statistics (IBGE), nearly 40 million Brazilians, or about 20 percent of the country’s population, lack access to the Internet. This means that access to products, equipment and services will be more difficult for the poorest, while access to certain technologies will give those who can afford it more access and exclusivity.
- • Outdated occupations: Occupations such as salespersons, waiters, traders, etc. must be changed. On the one hand, the disappearance of brick-and-mortar stores would lower costs for the company if there was an accompanying shift to virtual sales, and on the other, commerce could stop employing 10.4 million people.
- • Physical and mental health: Eating disorders, insomnia, eye and joint disorders, anxiety and depression are some of the ailments associated with overuse of devices and prolonged screen time.
In this sense, the evolution of technology has not translated into a more human evolution, but it shows that we need to debate and deepen ESG and governance issues in this new virtual environment so that we are not headed for a more pathological and indebted A tired society, blinded by sharing, dubious views and remote from reality.
Therefore, regulation is required. Companies need to understand the positive potential of the platform, but never lose sight of the vices that previous tools brought about, which were born without regulation in the past, and which we are now trying to make up for in the present.
Maria Silvia Monteiro is the ESG lead at Bravo GRC.