European lawmakers have called for stepped-up efforts to build a metaverse in the region to reduce dependence on technology from countries outside the 27-member bloc.
The initiative will also support businesses in the European Union (EU) by connecting and promoting them on future spatial communications platforms.
This news follows the release of a report by the European Parliament’s Committee on Internal Market and Consumer Protection. The department aims to assess the risks and opportunities associated with building virtual worlds that interconnect digital spaces in an interoperable and immersive way.
EU lawmakers want the EU to lead the development of virtual worlds that support EU businesses.
Yesterday, members adopted their own Initiative on Virtual Worlds report on the opportunities, risks and policy implications for the single market https://t.co/X3kbtp79Jg— Alessandro Donetti (@aledonetti) November 29, 2023
EU lawmakers adopted the report on Tuesday after 31 voted in favor and two opposed.
A statement from the committee said:
“The report welcomes the Commission’s communication on virtual worlds on 11 July 2023, but calls for more work to be done to define them. We want a clear regulatory framework in the Digital Single Market through existing legislation to support the development of virtual worlds.”
It added,
“The report highlights the economic potential, but most of the companies involved are outside the EU. The report therefore calls for EU leadership and highlights the need for interoperability and open standards to prevent monopolies. “Overall, we do not yet need stand-alone regulation for virtual worlds, although regular regulatory checks will be needed as they evolve.”
The news comes after the European Commission outlined plans for the metaverse in a July statement, saying it would oversee the next evolution of the internet. But taking such steps will require new standards for global governance and compatibility across nations.
EU lawmakers also announced a strategy for Web4 and Metaverse, but made no mention of the decentralized technologies of Web3 developers.
Additional European Parliament report details
On Tuesday, the European Parliament highlighted concerns about the current direction of the metaverse, saying the virtual world “has been developed by several companies based outside the EU with the necessary resources and financial capacity.”
It also noted that Members of the European Parliament (MEPs) encouraged the EU to “take a leading role in developing a virtual (world) that respects and promotes EU values, fundamental rights and the highest consumer protection standards.”
The report also called for promoting a “level playing field” for businesses to promote themselves in the European Union.
It also aimed to establish an ‘appropriate policy framework’ and ‘participate in international dialogue with like-minded third countries.’
The report also hopes to raise awareness among citizens about how to use Web4 technology.
However, regarding the risks associated with building the Metaverse, EU officials noted that despite the platform’s economic, employment and educational opportunities, users may face difficulties.
Some of the issues included in the statement included health concerns such as cyber addiction, VR illness, child cognitive development, and sleep schedules.
Additional potential risks included intellectual property (IP) rights, cybercrime, financial fraud, online violence and data processing issues.
Pablo Arias Echeverría, Rapporteur, Internal Market and Consumer Protection Committeesaid in a statement.
“Europe must not be left behind in the next digital revolution, nor must it repeat the mistakes of the past. As we launch Web 4.0 with the development of virtual worlds, we need to lay a foundation rooted in strong EU digital rules, guidelines and values. “Europe must lead this transition and put its citizens at the center of its digital future!”
To alleviate these problems, the draft report calls on lawmakers to implement safety, parental protection, digital literacy, research to assess potential risks, and dissemination of information through campaigns.
We’ve also championed digital inclusion and accessibility in today’s and tomorrow’s virtual worlds, supported vulnerable people with disabilities, and more.