Some legal questions arise around using the Metaverse in business: Will it be possible to enter into legally valid agreements in the Metaverse?
Brazil is the 3rd most social networking country in the world, averaging 3 hours and 42 minutes a day, according to study that collected data from Hootsuite and WeAreSocial. And the trend is for more and more effective time to be spent online every day. That’s because the arrival of Metaverse, the virtual universe that is the current investment focus of Meta (formerly Facebook), aims to revolutionize the way people interact online. But, after all, what is the Metaverse?
In essence, Metaverse is a virtual universe in three dimensions – 3D, whose goal is to replicate reality and allow the interaction of its users within the digital world, with an infinity of its own resources, without the need for contact outside out of it.
In view of this and with a significant number of people having frequent access to its platforms such as Facebook, Instagram and WhatsApp, Meta envisages the opening of several businesses, as well as the marketing of products and services in this new universe. However, some legal issues arise around using the Metaverse in business, such as signing contracts and signing documents.
Will it be possible to make legally valid deals in the Metaverse?
Pursuant to article 104 of the civil code, for the legal transaction to be valid, the following must be present: 1) the capable agent; 2) lawful, possible, determined or determinable object; and 3) prescribed form or not defended by law. Therefore, thinking about the legitimacy, possibility and determination of the object, it is possible to conclude that there is no limitation for the execution of a contract in the Metaverse, and currently, in the legal system, there are no laws prohibiting this practice.
However, one concern is how to ensure that there is a capable agent in the parties involved in legitimizing the contract, since it is not always possible to guarantee who the people on the other side are.
A widely used tool to ensure identity when signing a contract in a virtual environment is the use of Digital certificate issued by the Brazilian public key infrastructure – ICP-Brazil, which has legal validity and integrity guarantees, as well as cryptographic security.
Therefore, in order to guarantee the legality of the transactions concluded in Metaverse, this could include a resource that uses the electronic signature, resulting from the Digital Certificate to guarantee the authenticity and integrity of a contract or document signed online, thus giving legal validity to the deed.
Moreover, it will be up to the legal system to precisely regulate the methods of carrying out these procedures, in order to avoid the indiscriminate use of technological resources without the due protection of the public and of the interested parties.
Website: http://www.nossocertificado.com.br
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Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
