The European Union (EU) recently unveiled its development plans for the digital universe. As emerging technologies become more and more trendy, she does everything not to stay behind.
The European Union (EU) and its vision of the metaverse
Many governments and businesses are actively working on adopting emerging technologies. And to avoid a cacophony, the European Union (EU) unveils its strategy to regulate and strengthen a growing ecosystem. In his last proposal published on July 11, it estimates that the global metaverse market will exceed 800 billion euros by 2030.
Because of this, Big Tech should not be allowed to become too big. This means developing the metaverse to reflect the core values of the EU. According to European Commission Vice-President Margrethe Vestager, the body wants to ensure that Web 4.0 becomes an open, fair, trustworthy, secure and inclusive digital environment for everyone.
Thus, it will emphasize openness and interoperability. However, as the European Union works on its metaverse strategy which includes EU Web4 support for businesses and others, users are wondering what is Web4 and when did we overtake Web3.
Web4, the ultimate weapon in the race against major technologies?
According to the EU strategy, Web4 differs from Web3 in that it should improve the integration between the digital and real worlds. In this version, humans and machines could interact more easily in sorts of smart cities.
The European Commission believes in its project and is already investing in many projects which should advance science for the development of precision applications. To achieve this, the European Union also includes other technologies such as AI, crypto transactions and many other details. It’s important that all of these initiatives come as Meta, Apple, Microsoft, and Google work on their own versions of AI and the metaverse.
Although there are no regulations on the metaverse yet, the EU believes it could be affected by other rules already in place. Therefore, it would be better for it to pave the way in order to prevent certain major players in the market from giving another line to an economically viable sector.
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