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EU unveils strategy for Web 4.0 development and virtual worlds

EU unveils strategy for Web 4.0 development and virtual worlds

The European Commission обнародовала strategy for “Web 4.0 development and virtual worlds that reflect EU values and principles.”

“We will invest in the integration and expansion of new technologies, and give people tools and skills for safe and confident use of digital universes,” said Thierry Breton, EU internal market commissioner.

According to the EU definition, Web 4.0 is the fourth generation of internet development, bringing together artificial intelligence, IoT, blockchains, metaverses and augmented reality.

Mr Breton said the new phase of technology development would deliver a fusion of digital and real spaces, and improve interaction between people and machines.

“In the EU economy forecast for the period after 2030, digitisation is seen as one of the key drivers, and Web 4.0 is a major technological transition that provides a connected space. Estimates put the global virtual-world market at €27 billion in 2022, rising to more than €800 billion by 2030,” the European Commission said in a statement.

The authorities outlined several key development strategies:

In April, the European Parliament voted on a proposal to comprehensively regulate the crypto industry, MiCA. The document introduces strict rules aimed at protecting investors and consumers.

In June, the EU put forward a legislative proposal that would set the legal basis for a possible digital euro as a complement to cash.

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