The government says it has no intention of regulating technologies like Metaverse
The government has said that it has no plans to adopt any regulations on Metaverse or Web 3.0, as these technologies are still evolving. This was announced by State Finance Minister Pankaj Chaudhary in Parliament, in response to a question about them.
Treasury sources say they are aware of emerging new technologies as well as the rapid rise of technologies such as Artificial Intelligence, Blockchain, Drones, Augmented Reality, Metaverse and Web 3.0.
They added that national strategies have been developed by the government on Artificial Intelligence and Blockchain.
In addition, the Information Technology Act, 2000 covers the domestic technology sector, and therefore the government has no intention of regulating such developing sectors.
What is Metaverse?
Metaverse is a 3D virtual world network focused on social connection. In futurism and science fiction, it is often depicted as a hypothetical iteration of the Internet as a single universal virtual world facilitated by the use of virtual reality headsets and virtual reality headsets. increase.
Components of metaverse technology have been developed in online video games.
What is Web 3.0?
Web 3.0 is an idea for a new iteration of the World Wide Web (www) based on blockchain technology, combining concepts such as decentralization and token-based economics.
The term was coined by Ethereum co-founder Gavin Wood in 2014 and the idea has already received interest in 2021 from crypto enthusiasts, major tech companies, and venture capital firms. dangerous.
