It is no surprise to anyone that technology is evolving and that it continues to do so. You only have to look at the smart gadgets we have in our homes today compared to a few years ago to see that technology is something that we all embrace. Whether it’s wanting better cameras on our phones, faster online transaction speeds or being able to see via camera when someone knocks on the door there are many ways that technology has enhanced our lives. However, just because technology is evolving that doesn’t mean that it is given free rein to do exactly what it wants. In fact, often as technology offers consumers new ways to access services, legislation is put in place to restrict what is on offer. We’re already looking to the future to see what legislation we might see within the technology industry in 2023 and here’s what we could expect to see:
Online Casinos
The gambling industry is one that is pretty heavily regulated in some places and 2023 is no exception. In fact, the UK is discussing several changes which have been in the pipeline since 2020 and many feel as though 2023 could be the year that this whitepaper is finally approved.
Although exact details of the whitepaper have yet to be officially announced there have been several rumours about what the paper is likely to contain and what changes are coming. There is no doubt that this is legislation that will affect all of the best slot sites so it is something that the industry is keen on hearing about sooner rather than later. Although all of the casino industry is likely to be affected it is online gambling that is likely to be looked at and overhauled the most.
Social Media
Social media is a big part of most of our lives these days. Whether it’s using our newsfeeds to keep up to date with news, using messenger apps to chat with friends or making money from apps like Tik Tok, there is no denying that social media is more popular than ever.
However, with the popularity of social media comes several issues; one of which has been around forever. Trolling is an issue that lots of the more popular people on social media have to deal with. Largely this is made up of anonymous accounts that leave comments of hate and bullying on content creators’ videos. Whilst this could be seen as harmless banter sometimes the messages sent become more threatening and that is certainly an issue.
Currently, anyone can easily make a social media account with falsified details and a throwaway email address, which means that if they do wish to act in this way they’re largely untraceable. It has been talked about for some time now that the need to show photo ID to join social media platforms could help to eradicate this problem. Of course, there are pros and cons to this change, but the fact the discussion has been going on for so long leaves many believing that 2023 will be the year a decision is made on it once and for all.
Virtual Private Networks
Although not all of us will have a reason to use one, Virtual Private Networks (VPN) allow you to browse online and hide your IP address. This means that you can browse a website that you wouldn’t usually be able to access due to country restrictions for example. There are lots of places where VPNs are allowed and plenty of legitimate reasons that people might want to take advantage of them. However, in places like China, Russia, Iraq and the United Arab Emirates they’re already illegal.
Much like any software of this nature, there are different opinions around their use and whether they should be allowed. For some time now there have been groups that are against the use of any VPN and have actually been calling for them to be banned in the countries in which they are currently allowed. Although there are no official announcements regarding any decisions on this many hope that 2023 will be there year that a ban is finally put into place.
Cryptocurrency
Digital currency has shot up in popularity over recent years. In fact, thanks to headlines of big crashes and major increases the likes of Bitcoin are more well-known than ever. Many people like the unregulated element of digital currency, especially the lack of paper trail using this type of currency brings. However, there isn’t really any other financial investment opportunity that has such a slack approach to legislation and many governments are in discussions about if this should change and how that should be. One thing that many want is regulation around trading platforms and some sort of protection when it comes to what money people invest. For example, in the UK you can invest up to £85,000 in a bank account and if that bank were to go under, the Financial Conduct Authority would protect consumer’s funds. As yet, there is no such protection for Cryptocurrency investments and many think that there should be.
There aren’t any official announcements in place and regulation across the board would be tricky as Cryptocurrency is a worldwide product. However, with the likes of the UK government talking about Stablecoin and many people thinking that Cryptocurrency should be regulated alongside other finical services such as gambling and/or banking it could be that 2023 is the year when some regulations start to be put in place for Cryptocurrency.
Of course, it is impossible to say exactly what changes these industries will see in 2023 or if they’ll see any changes at all. However, we do know that these are industries where changes in legislation are being discussed and as such the next 12 months could see some of them undergo some pretty big changes – we’ll have to see what changes are put in place and what effect this has on the industries involved.