Regulating The Metaverse: Policy Responses To Virtual Economics And Governance

Abstract

This study explores the
evolution of digital governance from Web
1.0 to Web 3.0, with a specific focus on the
challenges presented by the Metaverse.
Utilizing a comprehensive methodology
that encompasses a literature review, case
studies from multiple countries, and
qualitative stakeholder analyses, the
research highlights the urgent need for
adaptive governance frameworks. The
findings indicate that while digital
technologies have significantly
transformed public administration, the
emergence of the Metaverse introduces
complex issues related to data security,
privacy, and interoperability. A central
conclusion of the study is the necessity for
flexible policies that can rapidly adapt to
technological advancements. The
transition from New Public Management
to Digital Era Governance underscores
the importance of collaboration among
stakeholders, advocating for a holistic
approach to public service delivery. As the
digital landscape continues to evolve,
continuous stakeholder engagement and
iterative assessments of governance
models are vital to effectively address
emerging challenges. Ultimately, this
research proposes a multidimensional
policy framework for "metaverse
governance," aimed at ensuring inclusive,
transparent, and responsive governance
that maximizes the benefits of the
Metaverse while safeguarding public
interests.