Intelligent CIO APAC Issue 30 - Page 44

CIO OPINION
The OECD reports Australia has the second highest talent shortage in the developed world behind only Canada .
Pieter Danhieux , CEO of Secure Code Warrior

Coming to terms with the security challenges of the Metaverse

Pieter Danhieux , CEO of Secure Code Warrior , explains the impact the Metaverse has on security and how to manage the challenges that come with it .

When Facebook announced in 2021 that it was working to create a Metaverse , it captured attention around the world . People were captivated by the idea of having a new way to interact while businesses were excited by the opportunities it would bring for digital commerce .

Despite the surge of interest , it ’ s important to realise that the concept of the Metaverse has existed for a long time . The online platform Second Life has been around since 2003 , servicing a loyal niche with a fully customisable online universe where users ’ avatars interact via voice and text chat , games can be played and companies like Adidas offer official virtual stores .
On the pure gaming side , massively multiplayer online ( MMO ) games , like Fortnite and World of Warcraft , deliver expansive worlds to their players and are increasingly dependent on microtransactions , or forking out real money for virtual items . Fortnite alone made US $ 4.3 billion in microtransaction revenue in its first two years in the market .
It ’ s very clear that not only is the Metaverse concept here to stay , but it is also about to get a Mark Zuckerberg-sized push into the mainstream . This is an exciting evolution of the Internet – or at least social media and some e-commerce – as we know it . But the opportunity for cyberattacks and damaging exploits is mind-boggling .
The metaverse attack surface is far-reaching , extending well beyond web-based software , APIs and payment gateways . The peripheral elements of VR
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