Metaverse Cops: INTERPOL Launch Online Virtual Global Police Force

Metaverse Cops: INTERPOL Launch Online Virtual Global Police Force
  • INTERPOL’s metaverse is designed for law enforcement around the world
  • INTERPOL warns of rising crime in the metaverse
  • Will INTERPOL become the new sheriff of the metaverse?

Metaverse cops: INTERPOL, the global police organization, have unveiled the first metaverse designed specifically for law enforcement around the world.

INTERPOL announced that the fully operational metaverse allows registered users to tour a virtual office at INTERPOL’s General Secretariat headquarters in Lyon, France. This is without geographical or physical boundaries. Users can interact with other officials through their avatars. Users can even conduct immersive training courses on forensic investigation and other policing capabilities.

According to INTERPOL, its metaverse is “designed for law enforcement around the world.” They say it will help global forces “interact with other officers through their avatars.”

It seems that INTERPOL wants to prepare for the possible future expansion of the metaverse. Madan Oberoi is the Executive Director of Technology and Innovation at Interpol. “The metaverse has the potential to transform every aspect of our daily lives, with huge implications for law enforcement.”

Oberoi says there is only one way for the police to understand the functioning of bad actors in this new virtual environment. “For the police to understand the metaverse, we have to experience it.”

INTERPOL warns of rising crime in virtual worlds

According to INTERPOL’s latest Global Crime Trends report, crime has increasingly moved to the internet as the pace of digitization increases.

“As the number of users of the metaverse grows and the technology continues to develop, the list of potential crimes will only expand to potentially include crimes against children, data theft, money laundering, financial fraud, counterfeiting, ransomware, phishing, and sexual assault and harassment.”

The creation of the metaverse for global policing began when the international body’s roundtable asked a question. “How can law enforcement continue to protect communities and ensure the rule of law?” Humans are interacting in new ways. So, the “limits of the physical world will increasingly shift towards a digital realm, seemingly without borders.” Therefore policing must be prepared for this new digital environment.

Will INTERPOL become the new sheriff of the metaverse? At least it seems that they don’t want to be left behind.

Metaverse cops
 Source: INTERPOL (Lyon headquarters)

The new trend among police agencies?

INTERPOL is not the first police division to launch a metaverse. Recently a division of the Dubai police launched its own metaverse police.

So the question remains. If a crime happens in the metaverse, is it really even a crime? Do we need a police force in the metaverse? And the most important question of all: Can metaverse cops catch Do Kwon?

Source: https://beincrypto.com/metaverse-cops-interpol-launch-online-global-police/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Tax on virtual digital assets a concern for NFTs; impact may be short term: Experts

Tax on virtual digital assets a concern for NFTs; impact may be short term: Experts

A slowdown in cryptocurrency trading may have an impact on NFT transactions as well, although it could be a temporary phenomenon as investors await more clarity from the government.

The 30 percent tax on income from the transfer of virtual digital assets (VDAs) that came into effect from April 1 is a cause of concern not only for cryptocurrencies, which have seen a drop in trading volumes, but also for non-fungible tokens (NFTs) that gathered steam in India in the past year with the entry of sports and Bollywood celebrities.

“The immediate scenario is bleak for crypto and even bleaker for NFTs in India,” Raj Kapoor, strategic advisor at Acryptoverse, a crypto-marketing firm, told Moneycontrol. “NFTs in India will face a fallout with only unique models surviving. NFT creators here are popping up daily while collectors remain non-existent.”

Anndy Lian, Chairman, BigONE Exchange, a crypto trading platform, said the tax on VDAs in India will impact NFT sales.

“The overall market condition is not favourable. NFT sales will drop further and only the better assets will have a place in the crypto-verse,” he said.

He added that NFTs that are more speculative in nature and driven by profit will suffer hard when it comes to tax.

Vinu Peter Immanuel, a partner at Link Legal who tracks NFTs, said that with average trading volumes on top cryptocurrency exchanges dropping 80 to 90 percent from a few months ago, the impact will also be seen on NFTs.

“Since NFTs are traded mostly by using cryptocurrencies, any slowdown in cryptocurrency trading may have an impact on NFT transactions as well. Although it could be a temporary phenomenon where cryptocurrency investors have taken a step back and are waiting for more clarity from the government,” he said.

Short-term impact

However, Hitesh Malviya, founder of IBC (It’s Blockchain) DAO (decentralised autonomous organisation) said NFTs in India are not even a $10 million market in terms of daily sales.

“We have got limited traction here if we compare it to the west. In the US, marketplaces are doing over a billion dollar sales volume every month. Since it’s a limited market, I don’t see many people have got affected as we have less than 1 lakh Indians who have bought any NFTs,” Immanuel said.

Siddharth Jaiswal, founder of Sportzchain, said the new taxation policy will have a short-term impact on NFTs.

“For all of us, this is the first year for the cryptocurrency and NFT tax framework. For many, 30 percent may seem a lot, but if you see the kind of exponential returns, 30 percent may seem less. There have been exponential gains as well, to the tune of 300 to 500 percent, so 30 percent (tax) seems less. However, the same is subjective,” he said.

Malviya noted that while it’s a tough law for short-term traders as they will be required to pay 1 percent on each NFT trade, it would be fine for a long-term value investor like him.

“I don’t mind paying 30 percent tax on my crypto or NFT assets,” he said.

The government said a 1 percent tax would be deducted at source on the transfer of VDAs starting July 1.

“The TDS (tax deducted at source) on its own is causing major havoc for crypto exchanges because the high-volume daily traders have disappeared and these are the guys that provide liquidity to the exchanges. But this impact has so far just appeared on cryptocurrencies,” said Pratik Gauri, founder of 5ire. “Still, I think it’ll become more widespread and show up on all VDAs, precisely because the tax has some mandates, like not being able to write off losses from one deal into another that will have a significant impact on the trading on VDAs, be it cryptos, NFTs, or other VDAs.”

Positive outlook

While Lian and Jaiswal said the tax will have an effect on NFTs, they also believe the outlook for digital collectibles is positive.

“Utility-based NFTs should expect an increase. This increase would be in favour for the India market as they will help the industry to hit a new level of adoption,” said Lian.

He expects India to triple its NFT sales in the next year.

Sportzchain’s Jaiswal noted that NFT marketplaces are coming up with new strategies to smoothen the entire buying process, with less reliance on cryptocurrencies as the medium for buying these NFTs.

“For example, NFT marketplaces in India have introduced UPI as one of the payment modes to buy these NFTs. So a drop in the trading volumes will not adversely impact the market for NFTs,” he said.

Unified Payments Interface (UPI) is a real-time payment system that facilitates instant transfer of funds between bank accounts.

Acryptoverse’s Kapoor said NFT stakeholders should really look at India’s gaming sector for a strong product market fit with NFTs as this sector has exploded in the past year, recording 170 percent growth. Jaiswal also anticipates NFTs on game merchandise to see an upswing.

“Additionally, with metaverse applications also gaining momentum, the uptake of NFTs will only increase in the future,” he said.

However, Malviya said that in India, fan collectible NFTs are emerging with entertainment companies and actors launching digital assets to promote their movies or brands.

“While NFTs will be used as an emerging tool of branding by many lifestyle and entertainment firms, such NFTs will not value over time. These are hype-driven assets that might never get any value in the secondary markets,” he said.

 

Original Source: https://www.moneycontrol.com/news/trends/tax-on-virtual-digital-assets-a-concern-for-nfts-impact-may-be-short-term-experts-8378261.html

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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DeFi Live Virtual Stream: How Global Macro Trends Might Affect Crypto in the Near Future

DeFi Live Virtual Stream: How Global Macro Trends Might Affect Crypto in the Near Future

DeFI Live is a 2-day experience hosted virtually and in-person in London, showcasing the hottest DeFi Projects and biggest tech breakthroughs in the works. There were over 700 attendees, 200 speakers and more than 2000 global audiences at the event.

In this panel titled ‘How Global Macro Trends Might Affect Crypto in the Near Future’, the following speakers were present to share their insights: William Ralston Saul – Co-Founder, InCryptoHub; Barry Herbst – Snr VP Strategic Partnerships & growth. The Elliot; Anndy Lian – Chairman. Asia BigONE Exchange and Dan Beurthe – Director of communications, Zebu.

This panel discussion covered several trending topics and issues:
– Effects of over-regulation on personal and business banking activities
– Effects of inflation
– Effects of the developments in technology
– Thoughts on traditional companies moving into the tokenised space
– Key driving forces behind adoption of blockchain technology
– NFTs: how they are viewed vs its true purpose
– Utility coins vs memecoins

It is not rocket science that regulatory costs will continue to climb and remain a top concern for bankers. This all adds cost, with consumers ultimately bearing the burden. New technology will aid this process. “With all the over-regulation happening with personal and business bank accounts, the move to have all your financial activities done on the blockchain is inevitable.” – William Ralston Saul

“Cryptocurrency empowers people to rethink their typical career life.” – Anndy Lian. Blockchain, the technology behind cryptocurrency, has also finally taken a step towards the mainstream. Cryptocurrency provides many incentives for entrepreneurs across the globe. It has made it easier for entrepreneurs to reach international markets rather than strictly sticking to the national markets.

Web 3.0 is the next stage of the web evolution that would make the internet more intelligent or process information with near-human-like intelligence through the power of AI systems that could run smart programs to assist users. The combination of Web 3.0 and crypto will change things. “When people realise that they are the product – their data is the product – Web3 will take over in terms of people owning their data using protocols, blockchains, and DApps.” – Barry Herbst.

“The true value of cryptocurrency is not the price; it is how we use blockchain to do good for everybody.” – Anndy Lian. This will depend on the future of blockchain technology and how we position it now. The hype may fade, but the technology will continue to evolve if we keep building. Anndy also mentioned that the trends can be meme coin for example. This is a trend that is easily relatable to new users. It can be Shiba or Kishu, as long as they build products that people can use and their community is strong, this has already fulfilled the utility portion of blockchain.

The adoption of blockchain technology, especially cryptocurrencies, is truly inevitable and it’s approaching at a speed faster than we think. This industry is growing larger by the day and we’re glad to have had this board of panellists discuss what our future could hold. Are you ready?

To find out more, view the full video at https://youtu.be/ufrdOKFErEY.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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