Will the Metaverse inherit the security risks of today’s internet?
The Metaverse seems to be on the tip of everyone’s tongue – and for a good reason.
Simply put, Metaverse is the fusion of the real, augmented, and virtual realities in the digital world. Advancements in immersive technologies such as virtual and augmented reality (VR and AR), leveraged with other Internet-based technologies, can fundamentally change how we connect with one another.
As the next frontier of technology, the Metaverse holds the promise of being the next iteration of the Internet, wherein everything from entertainment to social networking to shopping is more immersive, engaging, and personalized.
The revolution has already begun as numerous tech giants and startups are mushrooming in the space with creative approaches to developing interactive, immersive, collaborative experiences for its users and clients. India is, in fact, at the centre of this transformation – playing a significant part in driving the Metaverse revolution. Even in a short period of time, India has climbed nearly 40 places in the Global Innovation Index, now ranking 46th in the world. In addition, video streaming and game consumption in India have been growing faster than ever. According to some estimates, the Indian gaming market is most likely to triple to $7 billion by 2026. This, along with India’s flourishing IT sector and entrepreneurial culture – the country is well-positioned to contribute to both the creation and sustenance of the Metaverse.
However, just like any other new technology, this new opportunity in the form of advanced immersive technology also brings its own set of challenges and cyber risks.
Kayne McGladrey, IEEE Senior Member, said, “We already have security challenges that we haven’t been able to adequately address,” “The Metaverse is likely to inherit these challenges – for example, phishing and theft of credentials has, unsurprisingly, carried over to the Metaverse. We’ve seen NFT and cryptocurrency scams, too, in the Metaverse.”
However, all is not doom and gloom, as the Metaverse is in its nascent stages, providing an opportunity to develop the technology with security at the forefront of the design process.
IDENTITY MANAGEMENT AND USER BEHAVIOR ANALYSIS
In the Metaverse, one’s digital avatar is essentially one’s identity – for better or worse.
“Identity management is probably where we’re going to be the most challenged when leveraging technologies associated with the Metaverse,” said McGladrey. “Related to that, I expect user and entity behavior analysis to present security challenges unique to the Metaverse.”
McGladrey is optimistic that Metaverse-based technologies will be backended with artificial intelligence technologies to address these challenges or, at the very least, that these technologies will be bolstered through the inclusion of security operations and automated responses for authentication purposes.
For example, McGladrey says that AI-based solutions can be used to identify reliable patterns that correlate to users’ identities, and also automate detection of deviations that prompt a second factor of authentication to help prevent identity theft.
According to McGladrey, end-users will greatly benefit from approaches to security that focus on identity management and user behavior analysis, as identity and behavior are two core components of what will define the Metaverse.
THE NEED FOR BLOCKCHAIN AS AN UNDERLYING SECURITY MECHANISM
One of the key ways to ensure that the Metaverse is secure is to build security into devices and platforms from the start, as opposed to bolting on solutions after users are already engaging with the technology.
McGladrey, said, “I think that blockchain is going to ultimately be the underpinning of all transactions and all ownership of items in the Metaverse,” “This would provide for a more secure Metaverse, wherein permanent immutable records of user behavior, transactions, and item ownership would be captured for improved authentication.”
His sentiment was echoed by IEEE Member Qiqi Wang. “The security of the Metaverse depends on its underlying structures,” said Wang. “A blockchain-based Metaverse naturally has better user privacy protection and security.”
Additionally, Wang believes that existing and proven security tools should be incorporated into the Metaverse early on to better understand how they may impact this new digital ecosystem.
Ultimately, according to Wang, the Metaverse depends on centralized technology – and there are plenty of tools that can be built in at the early stage to help secure this.
“At the end of the day, the Metaverse is similar to other iterations of the Internet in that users need security to protect their digital assets,” said Wang. “I have confidence that along the way, as the Metaverse is developed, there will definitely be improvements and refinement, providing us with better security.”