Judgment in the Metaverse: An Agreement on Failure of a Contract

Contents

This article understands the current meta-world as a world of incomplete contracts and develops models of incomplete contracts to identify the order of the meta-world. We compare four types according to the level of connectivity: royal type, UN type, integrated type and blockchain type. The bottom line is that for the first time, whether it is investments in interconnection or the entire community health level, the blockchain model is better for the UN model and better for the king of the UN models, the second is smaller than large companies, and the third, the advantages of When two companies create a smaller world, it can bring more advantages than us, the company that has created the huge world. The research in this article shows that we need to work hard on a culture that supports metasites to become bigger and more powerful, strengthen connectivity, and drive innovation.

About the Article: Order in the Metaverse: A Perspective from Incomplete Contract Theory, Nie Huihua, Li Jing, "Investing in the Industrial Economy"

1. Ask questions

2021 can be considered the first year of the metaverse. In March, games platform company Roblox was listed on the New York Stock Exchange and became the "Metaverse First Stock." changed to Meta (Meta Universe). In November, software giant Microsoft announced Mesh for Group, new video conferencing software to complement the holographic experience. China is still trying to enter the meta world in several ways. Internet companies such as Tencent, Alibaba, Baidu, ByteDance, Huawei and China Telecom may invest in the Metaverse (games) platform or consider developing commercial products. According to industry and commerce records, at least 960 companies are registered under the brand name "meta-world", and the total number of requests is close to 6,400 (Tianyan Check Data Research Institute, 2021).

No combination of memory now. Usually, the edge of Yuan believes it is a new virtual and intensive new combination of new combination. Technology technology gives mirrors based on technology leading the real world with the mirror. With block chain machine, industry system, relationship is closely with the world virtual with real world. Allow signs of symbols and each user to make up the development of details and treatments. About speaking, the definition of the world is not easier. One of the Yuahe first researchers now believe yuan is the new Agreement (VR (VR (VR (Virt). With its Ideas, Yuan Rim is hardware (eg, VR), the energy, the service and payment and investment and order Connected to the real world as a virtual world to the real world. Optimistic Yuan Coso is the Internet, a third generation of the Internet.

This phrase believes that today's meta world has the characteristics of incomplete contracts.Because today's meta-world is in a state of rapid development, there aren't many straightforward rules, and even beyond government oversight.

First, it does not interfere with communication according to standard procedures.Since the essence of the Internet is Unicom, many small worlds created by different platforms should be able to make the most of their benefits through communication. Since the metaverse industry is in its infancy, there are hardware and software compatibility models of different metaverse, users are switching to different platforms, payment models inside and outside of the market. system (such as tokens or NTFs) and interconnects and other components. No international cooperation, consensus or norm has been established and can only be resolved through bilateral negotiations. Bilateral negotiations involve the calculation of costs and investments for each party, but these important changes are often visible but not realistic. For gaming platforms, for example, the Daily Users (DAU), which determines performance gains, is a number that companies can measure and analyze, but the results are difficult to verify externally and do not change. . In this sense, the daily activities of consumers are similar to those of personal income managers, such as food trading, reputation and capital formation, human money, and unproven and unchanged.

Second, in the context of the context, there is no standard of justice and law in the Metaverse.Currently, the main features of Metaverse are the various games offered by the main platforms (Roblox, etc. in the United States). Each player can create their own game, the rules of the game are their own, and there is a big challenge in the game, so the developers have to have a master who feels new. In this virtual world, players can fight and kill, build armies, build nations, and do whatever they want.

Third, there is a lot of ambiguity about the rules of ownership.Whether it's the identification of digital assets or the ownership and use of data, it's now in the gray area of ​​the law. Additionally, there is the problem of shifting responsibility for abuse from the virtual world to the real world (similar to the problem of autopilot pilots hitting a person), and bogus laws and regulations.

Fourth, the laws and regulations are very incomplete when it comes to international surveillance.In terms of real world trade, international trade agreements often fail due to different country laws, different regulatory frameworks, respect and the high value of collaboration. In addition to compliance, the Metaverse also covers issues related to reporting, taxation, ideology, terrorism, and other national security and governance issues, and the Metaverse is less effective because technology can better cross international markets. Since the metaverse signifies national sovereignty and national security, many countries will be vying for dominance in the virtual world or the internet. Taken together, if all the exchanges, consensus, and interactions in the metaverse and between the different metacosms are considered a contract, this type of contract is usually tied without thinking and explaining with difficulty. It's hard to prove to a third party. This type of contract is an incomplete contract.

In this world of unfilled contracts, the question we must ask ourselves is: what is the best meaning of the meta-universe? Concretely, if each company developed small metaverse systems, how could the interrelationships of the different metaverse be combined? How are they affected? What kind of management can make companies invest and earn more money? To answer the above questions, this article focuses on the key question of meta-universe interconnection. We believe that if two companies (small meta-world) can complete the connection, it means that they have reached consensus on the design, the design of the content, the tools, the assets and the business rules. Connections can be thought of as a border organization of joint ventures and non-joint ventures.

This paragraph prepares the negative contracts to study the order of the vision. We focus on disruptions and compare four species based on the intersection of connection. Princess, no patterns, large types and block saw. We assume that every company (small address) can invest in both. It has been estimated that you have taken the income of improving the characteristics of your business. Others have more investments and will make the joint of bankruptcy, but extra costs (eg half consumer spent). Therefore, each company must have investments and affecting investments. Value and results of both investments of both investments can not be inappropriate, and investment resources depending on some species. We've seen the following words: First, when investing in communication or health services, the pattern block is better than the model is not better than the pattern pattern water. Second, the small business companies are the cause of the investment in interaction. Third, the Internet is extremely low, both companies as a small company and more than companies that are overwhelming more than three companies.

This phrase contributes to existing data in three ways:

First of all, this article enriches the application of the concept of incomplete contract.The classical theory of imperfect contracts assumes that a business is limited to the assets it owns. This sentence extends to the use of incomplete two-part contracts. The first extends the commitment to the virtual world which includes digital assets and recognizes that the ownership of (digital) assets in the virtual world is also important, as it affects the distribution of income, also affects capital support. The second is to discuss the new contract. Communication is not a state of independence and is not a merger of two companies, and it is not a state of merging two companies into one company. It's a bit of a comparison with the interconnection of equipment or the integration of upstream and downstream companies.

Second, this article provides business advice and business information.Hart recognized that power is a key factor in bad contracts and should be a key issue in business theory. However, when an existing business thinking is discussed about the area of ​​a business or the formation of an internal organization, the main principle of the discussion is the right to control assets. . In addition to introducing the national competition on the issue of joint ventures and addressing joint ventures within the company, this article addresses the issues of joint ventures. Additionally, although the existing data addresses the connectivity issues of communications companies, it is all based on industry information without considering unfinished contracts and international competition.

Third, this article provides mathematical models for meta-universe data.Although Yuan the earth became hot before, the courses of the study of yen still has little. For example, wu tongue and Wang long have three defects in a large circle circle, for example the small circle) I believe it is difficult to solve. They believe that blocking the chain can blame, complete authentication data, costs and industry, and must be simple. The basis of Lu Peng's development has shown that Yunan Xian groaditates the liberals of work, and the person can do in the virtual world. Shen the married group marget zhi identify the interaction of YaianChiff technology and human Nithronal Foundation and humans. We also talk about the unpossible Cosa Cos Cos Cosco's knowledge and responsibility of Yavan Rim to the business construction. Zheng Lei, Zheng Yangyang (including value of virtual equipment) can expand the average amount of silver, and tunets are difficult to use in middle and high. Prices market and Yuanai bands are the first sentence to produce metamorological structure, and these forms are the model management of the industry industry.

The remainder of this article builds on the link structure from the incomplete contract perspective of Chapter 2, against the four metacosm models of Chapter 3 to provide the article's recommendations or assumptions. 4 become. sense.

2. Model settings

1. Thinking models

There are two participants in the meta-world, two societies or two small meta-worlds, of which the societies i, i∈. Every business has AI resources such as deep users, patents, application scenarios, algorithms, or tools. These physical devices or digital devices can be identified and become an important turning point in the identification of a field of activity. Each business can make its own investments, such as algorithms tailored to specific customers and processing procedures for specific situations, to develop the character of the game or the experience of the social platform to increase its value. By improving oi investments, the relationship of technology, equipment, content, etc. with other companies, and reducing user exchange costs, communication Good cooperation between the two companies can further increase. If the two companies overlap, the advantages of each company are as follows:

Of them, J = 3-I represent another company. (1) The proper investment of special investments, the second representation of intersection, the additional cost of intersection, and four representing the whole capital. The reason for the reason for the special investment is why users, please situations and assets and many products are right. The connection is more efficient and have more knowledge for users, and you can create more value for users. Income and two companies have had a relationship between the two companies, and the second company has excellent relationships. The advantage of some losses is associated with product capacity such as, obtain part of the cost of the consumer. Of other platforms, etc. If the company created ecological to ensure the number of users will improve the process to bring more money. If you are open to the candidate, it will have a big deal on the first business and αi and δi is very large. Is very small.

Metaverse has no laws or regulations, and because the virtual environment in which it resides is very complex and unique, both parties can monitor the level of investment, investment and return of a business, but it is difficult to be sure. three parties. . For example, companies reduce the cost of transferring users to interact with other companies, but the costs and benefits of these efforts are difficult to justify in court or third parties. In other words, the information of the parties is equal, but the contract or the exchange between the parties is an incomplete contract.

If the company's efforts for e_i and o_i, but ultimately the technology of the two companies does not interfere, then the gains for my company are: It bears the extra cost of the intersections.

To simplify, it was thought that the game between the two companies could last only a time, without any restriction on the parties, and without account reduction. The sequence of actions is as follows (1) on date 0, the two companies enter into a contract to determine the relationship or structure based on their capital, (2).) On date 1 both companies make an investment special and / or related investments; (3) Day 2, the two companies re-discuss the benefits (if any) that result from the interaction, dividing them according to their relationship, ultimately maximizing the beneficial benefits for both companies.

2.4 hours

We will discuss four things that are located between two companies (see Figure 1) or the fourth control. (1) Ducal status format: Both companies still depends on itself, but each company can be impaired unidom and unidirectional unicom, and others cannot deny. If Chinese Unicom occurs, all companies have a loneliness held by China Unicom, but it should be interested unicom. If you accept the unprecute shipping, you will not be able to benefit from adjustment to further accommodation and charging. (2) un code: all companies are maintaining itself and can make communication when both parties agree. The interview has occurred when provided interconnects due to cost and benefits of investment. Each party can reject the impact to apply for more rental lease. We think that parties have earned extra money from nash bargaining solutions, estimated that every company has a member of cooperation. (3) A types: Enterprise 1 Merger 2, eg the product capacity of Market 2, Both companies are changed in two independent industry in business. Enterprise 1 can determine whether to be done, and both parties have been updated as NASH's conversation. This includes special conversations even if the administration of the business 2 has people who commit special human assets, so you lost your own reservor. (4) You can check the address on the path of technology blocking, and you can check all the value and results. At this time, both sides will be highly recommended before, and then provide the rules. Give money. To interaction, no harmony of peace. If the intersection does not appear, without distribution. In four modes, interconns are the internal determination of each company. Since the two parties can expect their own value and results will surely choose the contract to receive full results. In other words, when dealing with the game problem in all kinds of recovery, our solution is the right solution below. The best solution is to compare the best solutions in different structures, and then see the most effective methods of work.

(1) Situation 1: Socially optimal

As leaders, we consider first that the best situation is the “best” (the best). Under the right circumstances, there is no data asymmetry, incomplete contracts and conflicts of interest, and cooperation has reached its optimal level 1. Fund The results of both of the largest companies are derived from mathematics to maximization.

Since we are only focusing on communication capital oi, for simplicity, for example for i∈ everyone a (βi βj) Ai Aj-αi Ai >

(2) Scenario 2: Track country model

After all, social optimality is just an ideal question. Therefore, we next consider four current and future metacosm approaches. First, think about the national model you are going to adopt. At present, the capital, costs and income of all companies cannot be verified and the contract between the two companies has not yet been finalized. Each office is specialized and integrates non-participatory investments. Not all businesses can block one-way connections from their partners, and while one-way connections may provide more seamless benefits, they cannot threaten to lose the connection later due to insurance. The resulting maximization problem to stabilize my state vassal structure is

(3) Part 3: UN model

Under the UN model, the two companies remain independent. Unlike the vassal model of the state, only the two parties can now agree on communication. Once the communication and cooperation work is completed, the parties divide and take back the benefits negotiated under the Nash Agreement as part of an incomplete contract. - Improved connectivity. At the moment, my Enterprise plans are as follows:

(4) Scenario 4: Large Unit Mode

Suppose Company 1 merges with Company 2 in a strong partnership. After the merger or merger of two companies, Entity 1 acquired and managed all the assets of Entity 2. The two companies moved from a business relationship to an intra-company agreement that corresponds to the two divisions. within the company and continues to operate independently and independently. Income is influenced by Nash. However, there are two changes: First, Company 1 acquired more assets from Company 2, increasing some of the capital gains and combined income. When 1 merges with Firm 2, the value mechanism can be changed by a control or ruler mechanism, which greatly improves the efficiency of the integration, so that the coefficient of efficiency μ of the integration cuts off to a maximum of 1.

Then the number prepared for company 1 becomes:

(5) Scenario 5: blockchain model

Blockchain is an online business that offers distributed, tamper-proof and anonymous features. It has been believed that with the development of blockchain technology, companies can achieve data authentication at no cost. That is, the investment and income of the enterprise and non-i, thiabi and δi can be confirmed to a third party, and the enterprise I can create a smart contract. Assuming that company 1 sets the rules, the sequence of actions is as follows: from 1/3, company 1 sets the exchange coefficient τ, τ∈ [0.1], day 2/3 stable 1 and firm 2 selects the capital levels ei and oi, respectively, and day 1, the two sides overlap. , the output is finished,

At time 1, τ was decided, where the planning problem for stability I was

Since the metaverse represents the human vision of the next generation of the Internet, research on the metaverse has important theoretical and practical implications. In this article, we understand the meta-universe as a world of unfilled contracts and discuss what a meta-universe is. We compare the governance model of four metacosms: the vassal state model, the United Nations model, the integrated model and the blockchain model. We believe:

(1) The blockchain model is better than the UN model, and the UN model is better than the vassal state model.

(2) Compared to large businesses, small businesses are more willing to invest in intersections.

(3) When the cost of renovation is high, forming a joint venture between the two companies and fighting with our company is a kind of balance.

The research in this article provides a key influence on the governance of the global meta and our country's struggle for internet governance.

First, different enhancements have different best meta-global standards. At the start of meta-global development, each meta-global platform was small and the profits were not large, but at the same time, the investments in each meta-global platform were still very large. , the vassal country model is the best, and the measurement of the metaverse impact during meta-global development is evident when the size of the investment is low. In this case, a seal is preferable. At the maturity stage of metaverse development, the network externality due to interconnection is greater, and interconnection is greater, policies have gradually developed consensus, and for now, the blockchain model is the better.

Second, to support the development of the metaverse platform industry, the key is to promote the use of blockchain technology, improve the operational cooperation of the business metaverse platform, and promote consistent improvement of Operation Metaverse. Currently, the Korean market has some advantages of hardware products, but the integration of metaverse platforms is not enough, and the size of the company is not the same. The next policy step is to foster the success of the metaverse business and prevent a business from growing stronger so that it can improve the performance of the whole homogeneous ion business.

Third, promote the expansion of the global metaverse platform, take advantage of more Chinese Internet users and high-tech enterprises to continue abroad to strive for the international law of the metaverse management. Today, American companies have advanced technology in the metaverse industry, and the governments of Korea and Japan have made it a priority. For example, the Ministry of Science, ICT and Future Planning of the Republic of Korea announced on May 18, 2021 that the Japanese Ministry of Economy, Trade and Industry, like Samsung, Korea Telecom (KT ), Korea Telecom (KT), SK Telecom and Hyundai Motor will lead the development of the metaverse industry, released "Research on the future and competitiveness of the virtual space industry." "China must take advantage of a latecomer to catch up. On December 21, 2021, the economic work conference of the Shanghai Municipal Party Committee stressed the need to get enterprises to promote research on key platforms for the integration of virtual world and real world in the future. Dominance of technology release iteration, right to define business model, distribution of value in aircraft equipment policy. We believe it is far.