The European Union bloc has announced the “thrive in the metaverse,” a project meant to create “a Europe fit for the digital age,” which was permitted as a “key”in the state of the Union letter of objective written by Ursula von der Leyen, President of the European Commission. The notice comes as nations plan to adopt a regulatory framework for the metaverse activities.
Commissioner for the internal market of the European Union, Thierry Breton, describes many measures the commission will take to handle the difficulties while setting standards to promote interoperability.
“Private metaverses should develop based on interoperable standards and no single private player should hold the key to the public square. We will not witness a new Wild West or new private monopolies.”, Thierry said
This recent virtual world must embed European ideals from the outset. Safety should be guaranteed in the virtual space as the physical space.
The goal is to integrate that through frameworks like the Digital Services Act(DSA) and the Digital Markets Acts(DMA).
Thierry also discussed how building a solid foundation for a vibrant ecosystem that is currently expanding through Europe requires investing in research in areas like semiconductors, photonics, and new materials.
To this end, the Virtual and Augmented Reality Industrial Coalition was launched thereby creating a roadmap backed by more than 40 European Union organizations operating in this field.
These initiatives are in the line with the European Union’s recent plan to use blockchain technology to combat forgeries.
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