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Exploring Risks in the Metaverse in an Immersive Digital Economy

Topics: Business for IT-driven Services; Future Business Models, Trends and Development; HCI and Computers Human Behavior; HCI and/or Technological Forecasting & Social Change; Informatics and Digital Transformation; Information Systems; Innovation; Technologies for Finance, Economics, Management And/Or IT Business

Authors: Victor Chang 1 ; Sandra Strittmatter 1 ; Vitor Jesus 1 ; Lewis Golightly 2 ; Pin Ni 3 and Karl Hall 2

Affiliations: 1 Aston University, Birmingham, U.K. ; 2 Teesside University, Middlesbrough, U.K. ; 3 University College London, London, U.K.

Keyword(s): Metaverse, Immersive, Virtual Reality (VR), Augmented Reality (AR), Extended Reality (XR), Cybersecurity.

Abstract: The Metaverse is the next paradigm of computing and a combination of the words next and the universe. Immersive technology such as Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), and Extended Reality (XR) have been emerging at a fast pace in recent years. The Metaverse aims to solve the limited social dynamic of using the internet for communications. Since the Covid-19 pandemic, the internet has been used for education, work, and gaming in a more immersive method than ever before. However, the problem the Metaverse aims to solve is the social limitations of using technology such as Microsoft teams. In this paper, we address the opportunities of the Metaverse, such as online gaming and an enhanced 3D virtual community life, alongside the potential of cyber risk and security issues, such as data privacy and information security. We complement our paper with a risk assessment of the Metaverse, particularly focusing on risks associated with cybersecurity.

CC BY-NC-ND 4.0

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Paper citation in several formats:
Chang, V.; Strittmatter, S.; Jesus, V.; Golightly, L.; Ni, P. and Hall, K. (2023). Exploring Risks in the Metaverse in an Immersive Digital Economy. In Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - FEMIB; ISBN 978-989-758-646-0; ISSN 2184-5891, SciTePress, pages 107-113. DOI: 10.5220/0011990900003494

@conference{femib23,
author={Victor Chang. and Sandra Strittmatter. and Vitor Jesus. and Lewis Golightly. and Pin Ni. and Karl Hall.},
title={Exploring Risks in the Metaverse in an Immersive Digital Economy},
booktitle={Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - FEMIB},
year={2023},
pages={107-113},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011990900003494},
isbn={978-989-758-646-0},
issn={2184-5891},
}

TY - CONF

JO - Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - FEMIB
TI - Exploring Risks in the Metaverse in an Immersive Digital Economy
SN - 978-989-758-646-0
IS - 2184-5891
AU - Chang, V.
AU - Strittmatter, S.
AU - Jesus, V.
AU - Golightly, L.
AU - Ni, P.
AU - Hall, K.
PY - 2023
SP - 107
EP - 113
DO - 10.5220/0011990900003494
PB - SciTePress