The European Union’s Commission has announced today the adoption of a strategy aimed at guiding the next technological transition towards Web4 and the metaverse.
The new strategy aims to ensure that EU citizens and businesses enjoy fair access to emerging technologies and can fully leverage the potential of virtual environments.
Building upon the existing Web3 world, Web4 represents the convergence of digital and physical elements, fostering enhanced interactions between humans and machines within a virtual ecosystem.
The newly unveiled strategy encompasses three fundamental pillars: skills, business and public services, and the openness and global governance of virtual worlds and Web4. These pillars would form the basis for a comprehensive approach to nurturing innovation, fostering economic growth, and safeguarding the rights and interests of EU citizens and businesses.
The first pillar, skills, acknowledges the need to equip individuals with the knowledge and expertise required to navigate the evolving technological landscape. The Commission emphasizes the importance of fostering digital literacy and ensuring that citizens own the skills to thrive in Web4 and the metaverse. It aims to facilitate training programs, educational initiatives, and partnerships with industry leaders to bolster the digital competencies of EU citizens.
Under the business and public services pillar, the strategy aims to create an enabling environment for enterprises to harness the potential of Web4 technologies. By promoting research and innovation, encouraging collaboration between academia and industry, and providing financial support, the European Commission seeks to foster a vibrant ecosystem that nurtures the growth of innovative startups and enables established businesses to embrace the metaverse’s possibilities.
The third pillar, openness and global governance, addresses the challenges and opportunities associated with the metaverse and Web4. The Commission emphasizes the importance of maintaining an open and inclusive approach, ensuring that Europe’s values, standards, and principles are upheld within the virtual realm. Moreover, it advocates for the establishment of global governance frameworks to facilitate cooperation and ensure a fair and transparent metaverse ecosystem.
Commenting on the new strategy, Margrethe Vestager, Executive Vice-President for Europe Fit for the Digital Age, stated, “Web4 and the metaverse have the potential to revolutionize our lives, societies, and economies. We must ensure that the European Union is at the forefront of this transformation, with citizens and businesses reaping the benefits. The strategy adopted today paves the way for a responsible, inclusive, and forward-looking approach to Web4, rooted in our shared values and driven by innovation.”
The European Commission’s strategy on Web4 and the metaverse represents a milestone in shaping the future of technology and its impact on society. By prioritizing skills development, supporting businesses, and championing openness and global governance, the European Union strives to ensure that its citizens and businesses can fully participate in and benefit from this technological revolution.
