Swiss Metaverse Association publishes position paper

With the position paper "Creating Certainty in the Metaverse", the Swiss Metaverse Association, founded at the beginning of 2023, aims to meet the social and entrepreneurial need for regulation in the metaverse.

Over the past two years, a lot has happened in the application areas of Web 3, artificial intelligence and virtual reality. Thanks to numerous innovations, these areas have become accessible to the general public, making them more tangible and easier to understand. This has also benefited the metaverse, which has once again become the focus of public attention as a result of these developments. Currently, questions about regulation in particular are becoming louder in connection with the metaverse.

With the Position paper the company founded at the beginning of 2023 Swiss Metaverse Association meet the social and entrepreneurial need for regulation in the metaverse. Under the title "Creating Certainty in the Metaverse", co-authors Dr. Mattia L. Rattaggi and Dr. Daniel Diemers have created a clear orientation framework for political decision-makers and regulatory authorities and also developed four specific recommendations for action.

What to consider when formulating a metaverse regulation

In the position paper, the two authors first address the potential principles that are necessary for a Swiss legal and regulatory framework. Among the generally accepted norms of the Swiss legal system, they mention the digitalization of the law, sustainability, inclusion, responsibility, pragmatism and comprehensiveness.

The authors then outline the scope of future regulation - private and business environment, public sector, education - with transformative impact, before addressing the relevance of existing regulation in interdependent technology fields.

Finally, Rattaggi and Diemers look at the most important regulatory focus areas for the next three to five years. These include, for example, digital interactions, data protection, employment law and intellectual property.

"The metaverse is becoming an integral part of our digital and physical lives, and Switzerland should take a leading role in creating a clear legal framework that promotes innovation while protecting individuals and companies," Daniel Diemers is convinced.

How Switzerland is becoming an attractive home for the Metaverse

According to the Swiss Metaverse Association, political decision-makers in Switzerland will have to focus on four points in future in view of the growing international emergence of the metaverse:

First, Swiss policymakers should closely follow developments around the metaverse and build capacity at the federal level for policy setting, implementation and enforcement.

Secondly, a smart, principles-based legal and regulatory framework for the metaverse in Switzerland must be created in order to position the country as one of the emerging global leaders in metaverse-related business.

Thirdly, the foundations of a "digitalization of the law" must be addressed first and foremost so that digital interactions become legally binding and can therefore be effectively enforced.

Finally, the convening of a metaverse task force at federal level should help to define a clear strategy and an initial regulatory framework. The involvement of associations such as the Swiss Metaverse Association and the Swiss Blockchain Federation, as well as the scientific community and affected industries, could help to keep pace with the rapid developments.

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