What's In Your Wallet: Privacy Implications for FinTech in the Metaverse [CC]

What's In Your Wallet: Privacy Implications for FinTech in the Metaverse [CC] — CLE 60 min

The creator economy in the metaverse in powered by enabling an interoperable infrastructure of digital wallets. While it presents an immense opportunity for fintech, their emerging use has privacy implications for metaverse users.

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Closed Captioned.

Among the many opportunities that metaverse presents is to enable creator economy by supporting payments through the use of digital wallets. These wallets are an interoperable infrastructure of digital identities, often using decentralized finance (DeFi) protocols such as blockchains, and consisting of either cryptocurrencies or stablecoins; and their emerging use has privacy implications for metaverse users.

The webinar will begin with an overview of what's in a digital wallet, and how it is used in both centralized and decentralized fintech systems. We will then review the interplay of data protection laws (such as CCPA and GDPR) and financial privacy laws (such as GLBA, AML) in the context of digital wallets, and highlight how the exchange of digital identities can conflict with pseudonymity in the metaverse. Finally, we will discuss what privacy-protecting approaches can be applied to mitigate this concern.

Moderators

Panelists

Jan Grabenschroeer, Lindsey Schultz, Nguyen Vu

Sponsors

Tort Trial and Insurance Practice Section

Product Code

IL2306METAOLC

Duration

60

Publication Date

6/27/2023 12:00:00 AM

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