DPP Central Committee: promote the development of metaverse technology and industry, and establish relevant regulatory and governance systems

The two sessions of the National People’s Congress in 2022 are about to be held. The reporter learned from the Democratic Progressive Central Committee that the Democratic Progressive Central Committee plans to submit the proposal on actively and steadily promoting metaverse technology and industrial development to the fifth session of the 13th CPPCC National Committee.

Metaverse is a hot word today. At present, international and domestic Internet enterprises and technology companies are most active in the possible applications and investment opportunities of metaverse, which can be divided into two modes: the first is to focus on the field of core components and basic platforms and speed up the layout of metaverse hardware portal and operating system; The second is to focus on business models and content scenarios and explore the landing of metaverse related application scenarios. The digital collection launched with NFT technology has become one of the fastest landing application scenarios.

Many local governments in China have issued relevant policies to support the development of metaverse, but the current development of metaverse technology and industry still faces many difficulties.

The DPP Central Committee believes that there are still the following difficult problems to be solved:

First, there is still a big gap between the maturity of Internet of things, holographic communication, tactile communication and other related technologies and the needs of metaverse landing applications. The existing metaverse technology display scenes are mostly experimental, local and limited applications, and the display cost is very high. The innovation ability in key fields is insufficient, and the industrial chain supply chain is controlled by others, which restricts the development of metaverse technology and industry.

Second, the existing digital infrastructure and technology can not meet the needs of metaverse applications. Metaverse’s scenario has high requirements for hardware matching, and requires high-performance virtual reality devices and excellent communication technology as the implementation guarantee. Events in the metaverse world occur synchronously without delay. The scenario of multi information concurrent propagation is a great challenge to the communication network.

Third, metaverse applications may have an impact on finance, games, copyright, privacy protection, etc. With the concept of metaverse becoming the object of attention and popularity, the transaction scale of NFT market is expanding rapidly, which contains great risks. At present, metaverse is mainly used in games, entertainment and other fields, which is easy to induce addictive game life. The explosive growth of virtual content and its creators is not only one of the keys for metaverse to become practical, but also will bring severe pressure on copyright protection. In metaverse’s technical environment, while people become information transparency, it also opens the door for information abuse and misleading, and personal privacy protection becomes more difficult.

For the healthy and orderly development of metaverse, the Central Committee of the Democratic Progressive Party suggested that efforts should be made to solve the problems of technical limitations. We will solidly promote basic digital technology research, give full play to the role of enterprises, scientific research institutes and laboratories, promote the extensive and in-depth penetration of digital technology into various fields of economic, social and industrial development, and promote the integration and innovation of digital technology, application scenarios and business models. Only by continuously enhancing the ability of technological innovation and steadily improving the technological maturity can we win the commanding heights in the development of metaverse industry and really promote the maturity of metaverse industry.

Second, we should optimize and upgrade digital infrastructure. Digital infrastructure is the fourth largest type of infrastructure and the foundation of digital economy including metaverse industry. The 14th five year plan for the development of digital economy requires accelerating the construction of information network infrastructure, promoting the development of cloud network coordination and computing network integration, and orderly promoting the intelligent upgrading of infrastructure. It is suggested to open the construction investment of digital infrastructure, guide the participation of social capital, encourage financial institutions to innovate products and services, and increase support for the core industries of digital economy.

Third, establish a regulatory governance system for metaverse related fields. In the face of the Metaverse boom, beware of the technology bubble in the name of technology and concept. We should strengthen dynamic monitoring, standardize the orderly innovation of digital finance, and the securities regulatory authorities should fully implement the law enforcement concept of “zero tolerance”, continuously improve laws and regulations, strengthen the connection with justice, and strengthen the crackdown on vicious violations such as market manipulation. For the fields of games, entertainment, copyright and privacy protection, it should be emphasized that enterprises, as the main body of technology promotion and application, should bear the primary responsibility. Establish an integrated regulatory system that can deal with uncertainty and control random risks, accelerate the bridging of the digital divide, explore the establishment of governance rules for privacy protection, and give full and diversified legal remedies to individuals who are illegally infringed due to information disclosure.

(originally entitled “the Central Committee of the Democratic Progressive Party of China: actively and steadily promote the development of metaverse technology and industry, and establish relevant regulatory and governance systems”)

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