70% of Consumers Are Worried About Privacy and Security in the Metaverse

The metaverse is a bold concept, even though it tends to be rather confusing to the vast majority of consumers. With one of the biggest tech companies in the world essentially rebranding itself to be a metaverse centered company after decades of specializing in social media, a lot of buzz has been generated regarding how the metaverse could very well be the way of the future.

In spite of the fact that this is the case, it turns out that there are some major concerns that are holding consumers back. According to a survey conducted by S&P Global, 70% of consumers were worried about privacy, data collection and security as it pertains to the metaverse. The fact that Mark Zuckerberg, a tech titan not usually known for being careful about data privacy in the past, is at the wheel is certainly making things even worse than might have been the case otherwise.

With all of that having been said and now out of the way, it is important to note that harassment and bullying is another prime concern that might become a significant pain point during the customer journey down the line. 44.5% of the people that responded to this survey stated that they are at least somewhat concerned about the establishing of community rules, with 29.3% stating that they are extremely concerned.

Perhaps the most important bit of data that people will be worried about when it comes to the metaverse is transactional data because of the fact that this is the sort of thing that could potentially end up causing widespread financial harm. 40.9% of survey respondents admitted to being slightly concerned, with a whopping 33.9% reporting feels of strong concern with all things having been considered and taken into account.

One thing that could pose a problem is the inclusion of blockchain tech in the metaverse. This is still a nascent technology with many detractors, yet the metaverse and its entire digital economy might not be sustainable without the use of blockchain and the various tokens that are associated with it in the here and now.

Read next: 45% of Americans Are Extremely Concerned About Online Privacy
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