The Norwegian government agency opens a Metaverse office in cooperation with EY
EY is an experienced player in this new market and believes that the interest in metaverse related services will definitely increase in the future.
The Brønnøysund Registration Center is a Norwegian government agency that decided to cooperate with Ernst & Young in order to reach a new generation of users. As a consequence of these events, Norwegian officials will open a virtual office in the metaverse created by Decentraland.
Brønnøysund Registration Center started cooperation with Ernst & Young
The center is responsible for managing numerous public registers for Norway, including government digital information exchange systems. Recently, this agency decided to create its own location in the metaverse. Norwegian officials believe that this is where the future users of public services are, and thus they want to connect with the younger generation who already make extensive use of metaverse services at this stage. It is worth adding here that EY played a key role in this.
“From an early stage, we worked closely with the Brønnøysund Registry Center and the Tax Administration to ensure that we reached the right users, especially the youngest. Additional goals were to help in the correct registration of new types of services, companies and income, such as, for example, cryptocurrencies. A particularly important factor for us was meeting younger generations in their natural environment, which is why EY also established its own office in Metavers, ”said Magnus Jones, Scandinavian blockchain and innovation manager at EY Tax & Law.
EY provided consultancy throughout the entire process, from the idea to the 'move' to Decentraland. The newly opened office intends to offer information to users on reporting their cryptocurrencies for tax purposes, as well as providing information on how to set up a business.
Andreas Hamnes, business developer at Brønnøysund Registers, said that if services continue to grow as fast as they do now, it will lead to an increased alienation of the generations that have been born in the time of widespread digitization.
Jones publicly argues that this future generation is building landscapes based on decentralized finance, and often have no idea or lack knowledge of the tax or legal consequences. For this reason, public authorities in Norway, in order to raise the awareness of the young generation, want to inform them about everything, from how to register a company or what they should do to report their cryptocurrencies to the tax office.
EY as an expert in the blockchain industry
EY has significant experience in this relatively young market and strongly believes that the demand for metaverse related services will increase in the future.
“Working with metaverse and virtual offices is still innovative and demanding for the vast majority of people, both from a technical and market point of view. However, what we see as the biggest challenge for business is the interpretation of a number of regulatory, tax and legal provisions relating to the metaverse sector, which can most likely be a very complex problem. Considering all this, EY is very positive about the Norwegian authorities, which are determined to bring innovation to their citizens, ”concludes Jones.
