The European Union (EU) is taking a proactive approach to emerging technologies, such as Web3, the metaverse, AI, and crypto, with strategic plans to lead the way and prevent Big Tech dominance.

In particular, the EU recognizes the immense potential of the metaverse and has unveiled a comprehensive strategy to establish itself as a global leader in its development. The EU’s metaverse strategy focuses on reflecting EU values, safeguarding fundamental rights, and promoting openness and interoperability. It distinguishes Web4 from Web3 by its integration with the real world, enabling seamless interactions between digital and real environments.

The EU has also been at the forefront of creating regulatory frameworks for emerging technologies. The Markets in Crypto-Assets (MiCA) framework was signed into law in May, providing clear guidelines for the crypto industry. Additionally, the EU is actively working on regulations for AI systems to ensure their ethical and responsible use.

With companies like Meta Platforms, Microsoft, Apple, and Google heavily investing in the metaverse, the EU aims to prevent domination by a few big players and foster an ecosystem driven by open technologies and innovation.

The EU’s commitment to staying at the forefront of emerging technologies demonstrates its visionary approach. By setting clear regulations and strategies, the EU aims to create a technologically advanced and inclusive future that reflects its values and benefits its citizens. With a focus on openness, ethical use, and user empowerment, the EU is poised to shape the future and create a digitally connected world that works for everyone.