The European Commission has set its sights on the next frontier: Web 4.0 and Virtual Worlds, often synonymous with the burgeoning concept of the metaverse. The Commission recently rolled out an extensive strategy outlining how these advanced technologies could revolutionize how European Union (EU) citizens live, work, and interact. The strategy leans on four core themes from the Digital Decade policy program and the Commission's Connectivity package: People and Skills, Business, Government (covering public services and projects), and Governance.
Virtual Worlds and Web 4.0
From the Commission's perspective, Virtual Worlds can be described as immersive, enduring environments. These are enabled by 3D and extended reality (XR), blending the digital and physical realms in real time for a diverse array of applications.
Web 4.0, according to the Commission, represents the fourth evolution of the World Wide Web. This advanced iteration will feature ambient and artificial intelligence, the Internet of Things (IoT), trusted blockchain transactions, Virtual Worlds, and extended reality capabilities. All these facets contribute to the seamless integration and communication between digital and real objects, resulting in a continuous merger of the physical and digital worlds.
The EU is committed to promoting the adoption and development of Virtual Worlds, and this commitment encompasses bridging the gap between virtual world developers and industry users and investing in new technologies uptake and scale-up. Moreover, the EU seeks to empower citizens with the tools and skills to utilize Virtual Worlds safely and confidently.
The overarching goal is establishing the EU as a trailblazer in Web 4.0 and Virtual Worlds. The EU is determined to ensure that the emerging metaverse is shaped to reflect its values, principles, and fundamental rights. This aspiration forms a cornerstone of the EU's latest strategy and a series of related initiatives and announcements.
Key Tenets of the EU's Strategy on Web 4.0 and Virtual Worlds
People and Skills
First and foremost, the European Commission aims to increase the cadre of specialists knowledgeable about Web 4.0 and Virtual Worlds within the EU. This talent augmentation strategy includes the following:
Promoting and investing in training and education through programs such as Digital Europe and Creative Europe.
Attracting skilled professionals globally to expand the EU talent pool.
Introducing the Virtual Worlds "Toolbox" to educate the public about these technologies, including guidelines on managing virtual identities and protecting against disinformation.
The Commission's approach also emphasizes child-friendly design for Virtual Worlds and educating youth via the "Better Internet for Kids" Portal.
Business Environment
The Commission acknowledges the strong industrial potential of Europe in the realm of Web 4.0 and Virtual Worlds. Nevertheless, it identifies specific challenges hampering this potential, such as fragmented technical expertise, slow adoption of new technologies, and limited access to finance. To counter these, the strategy proposes:
Enhancing collaboration across all levels of the Virtual Worlds production chain.
Establishing the "New European Partnership" to facilitate investments in state-of-the-art technologies and the creation of European data spaces.
Developing regulatory sandboxes for testing and refining technologies and services related to Virtual Worlds in a risk-free setting.
Moreover, the EU is committed to ensuring market competitiveness and interoperability among platforms, thus guarding against the domination of "large market players."
Public Services and Projects
The strategy envisages the use of digitalization by local and national governments to enhance public services and address societal challenges like health and climate change. Additionally, the Innovation Friendly Regulations Advisory Group will help identify future initiatives for Virtual Worlds public service.
Governance and Regulatory Framework
The Commission recognizes the scale of societal change that Web 4.0 and Virtual Worlds may bring, warranting "close cooperation" between the EU and Member States. It plans to convene an expert group of Member State representatives to share best practices. The goal is to create a multi-stakeholder governance process to address aspects of Virtual Worlds and Web 4.0 beyond existing Internet governance institutions' scope.
Prospective Actions and Way Forward
Looking ahead, the Commission encourages the European Parliament and the Council to endorse the strategy and collaborate in its implementation. It expects progress on most of the strategy's action points over the next year, paving the way for a digital future aligned with the core principles and values of the EU.
In conclusion, as the EU embarks on this ambitious journey into Web 4.0 and Virtual Worlds, individuals, businesses, and institutions must understand the implications of this transformative strategy. With our vast global network of partners, Prokopiev Law Group stands ready to guide you through this new digital landscape. We ensure your compliance not only within the EU but also on a worldwide scale. Suppose you seek further information or require legal assistance navigating these emerging sectors. In that case, we invite you to reach out to us. Your digital future is just one conversation away.
The information provided is not legal, tax, investment, or accounting advice and should not be used as such. It is for discussion purposes only. Seek guidance from your own legal counsel and advisors on any matters. The views presented are those of the author and not any other individual or organization. Some parts of the text may be automatically generated. The author of this material makes no guarantees or warranties about the accuracy or completeness of the information.
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