The European Commission has delayed the release of its metaverse strategy, which will address privacy, property rights, and technical standards in virtual worlds.
The metaverse, a term used to describe a collective virtual shared space, is gaining popularity in the cryptocurrency and big tech worlds.
It allows users to create, explore and interact with digital environments and assets using virtual reality, augmented reality, and blockchain technologies.
The Policy Concerns
As virtual worlds continue to expand and evolve, policymakers must address the policy concerns surrounding them.
The European Commission, the executive branch of the European Union, has been working on a metaverse strategy, originally planned to be released next week.
However, the release of the strategy has been postponed until early next year due to the complexity and sensitivity of the policy issues involved.
The strategy will address three main policy issues:
- Privacy: To protect users’ data and personal information in virtual worlds, in line with the EU’s General Data Protection Regulation (GDPR).
- Property rights: To establish and protect users’ ownership and control over their virtual assets, in line with the EU’s Digital Single Market Strategy.
- Technical standards: To ensure interoperability and user safety in virtual worlds, in line with the EU’s Digital Services Act (DSA).
The Policy Goals
The European Commission aims to create a regulatory framework that supports innovation and competitiveness in the metaverse while protecting users’ rights and interests.
Additionally, the strategy will foster collaboration and dialogue among various stakeholders, such as governments, businesses, civil society, and users.
The European Commission hopes that its strategy will contribute to shaping an inclusive, sustainable, and democratic global vision for the metaverse.
