Coined by sci-fi writer Neal Stephenson over 30 years ago, “metaverse” is the biggest buzzword of 2022. This pivot to a “cyber world” where we will be using a “digital identity” to work, shop, and interact socially has attracted major brands like Epic Games, Microsoft, and Apple. Most notably, Facebook has renamed to Meta and infused $10 billion dollars into the project.
While the possibilities of the metaverse come with their appeals, alongside them will also be significant implications for cybersecurity and fraud. As we make the inevitable shift to the metaverse in the next five years or so, businesses will have to stay focused on security and regulation issues to ensure end users are protected and security practices remain up-to-date.
So what are the key concerns in this uncharted territory? The following are a few predictions in the areas of cybersecurity concerns related to the metaverse.