EU Parliament Tasks Members to Take Leading Role in Metaverse-Tech Implementation

cryptonews.com:

The European Union (EU) parliament has called on member-states to take the lead in the creation of digital worlds in terms of strategy and technology implementation.

In a Nov 29 press release, the body urged relevant parties in the jurisdiction to take charge as the metaverse takes shape globally striving to set new standards for stakeholders.

The European Parliament Committee on Internal Markets and Consumer Protection passed a report which seeks to analyze opportunities, risks, and policy implementation for the local market.

The Committee recognizes the level of work done and the direction of the body but aims for more regulation in the digital single market noting that the region stands to gain a lot by playing a leading role in global markets.

While pushing this narrative, the lawmakers called for more global collaboration towards the metaverse creating interoperable networks across borders regardless of the underlying technology deployed by companies.

The parliament adopted the draft with 31 votes in favor, two against, and eight absentees signifying a united front to the committee’s proposals.

Pablo Arias Echeverria, the rapporteur explained that the region cannot afford to repeat the last mistakes in the digital revolution and should aim to light the path of the metaverse.

“Europe cannot afford to lag in the next digital revolution nor can we repeat past mistakes. As we step into Web 4.0 with the development of virtual worlds, we have to lay a foundation, rooted in strong EU digital rules, guiding principles, and values. Europe has to lead this transition, placing citizens at the heart of our digital future!”

Major benefits of virtual worlds include shaping how citizens work,  interact, and create content and want EU