Picture this. You are in the virtual office space of the metaverse. You are discussing details of a confidential multi-million dollar deal with your co-worker. The next day when you meet again to discuss, you realize the co-worker has no recollection of the meeting details.
What just happened?
Cybercrime and attacks in the metaverse
In the metaverse, this is known as identity theft. An attacker hacked the identity of your peer by stealing his network credentials and taking his avatar. The incident resulted in you giving confidential information about a business deal to an attacker. This is only one of the several cyber security threats in the metaverse.
Security risks of AR
Augmented Reality or AR will be one of the pillars in the metaverse. While it opens up several possibilities, it is also responsible for metaverse security risks pertaining to the privacy of users. This means that the way AR collects, stores, shares and manages data will determine the cybersecurity threats to users’ information. Managing it on a centralized infrastructure would ultimately make user data vulnerable and prone to attacks.
Similar to our previous example, anyone can be a victim of a hacked avatar or a deepfake. Users interact with each other in the metaverse through their digital avatars. But in case the avatar is compromised, this can result in social engineering attacks. An attacker can trick people into revealing their personal information including financial details or confidential data.
One of the challenges with the current web2 iteration is that tech companies and social media giants control user data and their engagement. If the same infrastructure is to be applied to the metaverse, this could potentially be a much bigger threat to users’ data. There may be even more data available for these companies to feed on in the metaverse, and the invasion of user privacy by tech companies will continue.
The foundation of the metaverse needs to be done well as it potentially poses a much bigger threat to user identity, privacy and security.
IneryDB: Securing your identity in the metaverse
IneryDB offers a strong foundation for securing data with its decentralized database management solution. It enables a decentralized and distributed infrastructure to collect, store, share and manage users’ data generated from engaging in the metaverse.
Database management on IneryDB enables benefits and possibilities that include:
- Self-sovereign identities — IneryDB opens the possibility for self-sovereign identities — digital identities managed by users themselves without relying on any third-party providers. This eliminates the need to maintain personal information on a centralized database.
- Interoperability — Since IneryDB is a decentralized database, any user can carry data from one metaverse platform to another. Each time the data is extracted from DB instead of a siloed metaverse platform.
- Security — Inery is a layer-0 blockchain solution that specifically addresses database management. Its cryptographic mechanisms ensure optimum security to user data.
- Privacy — The infrastructure of the database management solution is built to enable owner-controlled data assets. Instead of a third-party organization, the user will have the control to share private information.
These possibilities can further increase metaverse traffic, improve user onboarding and strengthen user loyalty. Moreover, as a platform, it allows the metaverse to have access to users’ information on customer’s consent.
Users can log in to multiple metaverse platforms and enable their data flow between different metaverse platforms. Inery can potentially change the dynamics of metaverse from a platform-specific approach to the interoperability and portability of assets and content between different platforms.
The innovation of metaverse demands subsequently demands innovating the practices too. We can no longer continue to apply the same practices of the web2 era. Inery helps build the foundation for a more secure metaverse.
Inery is the first-ever layer-1 blockchain offering the solution of decentralized database management with the vision to enable a new paradigm for data. Inery is designed to enable cross-chain communication of data, greater speed and better security. It specifically addresses database management integrated with blockchain functionalities and distributed database management properties.
The Inery database management solution (IneryDB) allows a secure, low-cost and immutable way for database management where the control of private information remains in the hands of users and enterprises. It sets the base for the web3 future to enable value creation by seamlessly connecting with other systems, applications and layer-1 networks.
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