1、The Metaverse Opportunities and Challenges for the Financial Services IndustryJune 2024Hong Kong Institute for Monetary and Financial ResearchHKIMR Applied Research Report No.2/2024PagesForeword2Acknowledgements3Executive Summary4Chapter 1An Introduction to the MetaverseDefinition,key components,and

2、 potential implications for the financial services industry7Chapter 2Emerging Use Cases and Future Prospects of the Metaverse in the Financial Services IndustryExploration of current industry engagement and recent developments19Chapter 3Opportunities and Challenges and Metaverse Developments in Hong

3、 KongAdoption in the financial services industry and the metaverse talent landscape26Chapter 4The Role of Regulation in Metaverse Development and Recent InitiativesKey regulating areas,regulatory proposals and supervisory guidance35Chapter 5Looking into the FutureConsiderations for sustainable metav

4、erse development and integration48Conclusions58Appendix A:Background of the Metaverse Survey59Appendix B:Glossary of Technical Terms60Appendix C:References64ContentsThe rapid evolution of technology has given rise to a new digital frontier:the metaverse.Originally conceived in Neal Stephensons scien

5、ce-fiction novel,Snow Crash,as a virtual universe inhabited by avatars that engage with one another digitally,the metaverse has become a reality.Loosely defined as a network of immersive space that integrates the physical and computer-generated virtual worlds,the metaverse presents unique and revolu

6、tionary ways to communicate,interact,and create new experiences.As Hong Kong commits to reinforcing its position as a premier international financial centre,the Government and the financial regulators work continuously towards fostering an environment for promoting sustainable and responsible develo