The European Union will present an initiative to address the Metaverse and all activities and interactions that occur there sometime in 2023. The proposal, which is positioned as “important” in the State of the Union letter of intent written by European Commission President Ursula von der Leyen, will present several initiatives to clarify European rules and expectations for the metaverse It is planned to.
European Union to introduce the Metaverse Regulation Project
Many countries around the world are in the process of integrating and adapting their regulatory frameworks and infrastructures to support the activities already taking place in the metaverse. The European Union bloc is also in this process and recently announced a coalition-wide initiative to enable Europe to “thrive in the metaverse.”
The initiative, identified as “key” by European Commission President Ursula von der Leyen, is part of what the latest State of the Unionprospectuscalls “a Europe fit for the digital age.” Von der Leyen said that as part of his digital regulation strategy, he will “continue to look at new digital opportunities and trends such as the Metaverse.”
The Commission aims to deliver this initiative in 2023, taking into account the various activities already taking place in the metaverse.
Description of the initiative
Thierry Breton, EU Commissioner for the Internal Market,explained how the Commission will focus its effortsto prepare this comprehensive initiative. It will propose several structures to address perceived problems, develop standards, and establish specific bodies to increase interoperability between different metaverse worlds.
Breton made the following remarks about the need for communication between these different metaverses.
Private metaverses should be developed based on interoperable standards and no single private player should hold the keys to the public square. We will not witness a new Wild West or a new private monopoly.
An organization that aims to group the key stakeholders of these technologies in the region to form a system of group providers of software, middleware, other platforms, 5G, and other technologies on which the metaverse is based, the The Virtual and Augmented Reality Industrial Coalition has already been launched.
In terms of connectivity, Breton also explains that in order to develop the metaverse, it is necessary to pinpoint needs regarding infrastructure. In this regard, he declares.
We will initiate comprehensive thought and consultation on the vision and business model for the infrastructure needed to carry the large volumes of data and immediate and ongoing interactions that will occur in the metaverse.
The EU also recently announced a project to combat counterfeiting using blockchain technology and NFTs.
What do you think of the regulatory initiative focused on the metaverse that the European Union will launch next year? Let us know in the comments section below.
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