Regulatory and Security Expertise
Last updated
Last updated
As reported by cointelegraph.com on SEP 02, 2022: South Korea expands its efforts to regulate Metaverse. “The country has been very active in the Metaverse development since the beginning of 2022, teasing large investments and a regulatory framework.
Like any new industry that explodes out of the gate, when there is no framework or structure yet in place, P&E took a massive run the last couple of years. It created an industry sector where there was not one previously and many then jumped on the bandwagon wanting their piece of the pie. What seems, however, to have been lost in that explosion and its aftermath today, is the reality that when an industry is new and it is lucrative for those that were there in its infancy, sooner or later the powers that be are going to realize that this is something that they best look closer at and in turn develop that oversight they need in order to ensure not only perceived protection for users at large, but such that governmentally they are now finding their way to be compensated.
Interoperable integrated movement of financial instruments must always continue to evolve and adapt to the constantly changing global governmental regulatory environment and ever-changing user expectations of an ever-smaller interconnected world, demanding better, easier, and safer ways to pay, using any device or channel they prefer, irrespective of the physical geography or position in the metaverse. As growth players seek to ease their payments pain points by strengthening their core capabilities, finding tailored solutions that solve their unique challenges is the only way to remain competitive and prepared.
Although it is one PEG understands and appreciates, in deference to much of the industry at present that have for the most part adopted the non-governmentally registered DAO operational philosophy, it is seen by PEG to be incredibly limiting in the current scheme of global economics, money movement and transactional flows. Perhaps in another decade or two, if/when the Metaverse has truly become the juggernaut certain forecasted visions suggest, where it is capable of operating completely outside of the scope of the nature of governmentally regulated, licensed, compliant financial ecosystem infrastructure that exists worldwide, then perhaps such a utopian ideology may take form. Today, however, that is simply not the case and rather than operate behind the shadows like most all other guilds and Web 3.0 groups acting transactionally in private DAO structures that have an incredibly difficult and costly time in trying to transact, convert and move monies in and out, back and forth, fiat to crypto or vice versa, PEG has taken a route whereby it can have the best of both worlds, and provide a seamless bridge between the physical and the meta offering to each sides the economic and social benefits of the other.
Working hand in hand with an SEC Registered DAO in the US as provider of its seamless, safe, secure, Blockchain technology, and a governmentally registered fintech provider as purveyor of its global network of licensed and compliant, traditional, digital or cryptocurrency transactional locations worldwide, PEG has taken the correct steps to position itself to be a go-to strategic business partner for others who wish to grow their footprint and as a benchmark for regulators.
For the security of operators, the platform is secured via BLOX, a decentralized blockchain that will process and validate transactions via smart contracts executed via their own token.
For P&E specifically, this will ensure that both game developers and gamers can safely and confidently transact, enabling both to better focus on the heart of the gaming experience.
By using BLOX for the blockchain technology, combined with Vasu and its complete network of globally integrated regulated and compliant payment infrastructure rails and licensed cryptocurrency exchange capabilities, PEG provides a turnkey full suite of services technology offering for other P&E guilds, Web 3.0 participants or the Metaverse at large.
