- The agency wants to reach out to the younger generation of people.
- Developers and investors in the metaverse have expressed optimism.
The Norwegian government’s Bronnoysund Register Center has opened a virtual office in the metaverse of Second Life. This has been possible with the help of the accounting firm Ernst & Young (EY). The center oversees Norway’s public registries and the government’s electronic data-sharing infrastructure.
The statement states that the agency has decided to establish a metaverse location because it wants to reach out to the younger generation of people. Who will be using its services in the future. Users will be able to use resources from the Norwegian Tax Agency. And the Bronnoysund Registers to help them get their businesses off the ground.
Benefits Come With Cons
Business development at Bronnoysund Registers, Andreas Hamnes, has warned that “born digital” generations would feel even more marginalized. If services continue to evolve in the way they are currently.
Jones went on to add that the next generation is the one responsible for creating “DeFi-based landscapes,” and that they frequently have no idea or are unaware of the tax or legal repercussions of their decisions.
He further added that because of this, “public authorities in Norway want to inform [them] on everything,” including how to report cryptocurrencies, when VAT registration becomes necessary, and how to establish a new business.
Following its various Web3 advancements, including multimillion-dollar expenditures in the establishment of its own blockchain suite, EY also has a metaverse office presence in Decentraland. Developers and investors in the metaverse have expressed optimism that the platform would play a significant role in the future of the internet in the weeks after the number of active unique wallets declined.
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