The European Commission’s much-anticipated strategy for virtual worlds (metaverse), which was due to be released next week, has been delayed.

The decision has raised concerns about the effectiveness of the strategy itself, while policymakers fret over how virtual worlds will respond to key issues such as intellectual property, technology standards and privacy policies.

The delay comes after European Commission President Ursula von der Leyen first announced the policy paper on virtual worlds in her annual speech last September.

The plan was expected to be approved next Tuesday; however, the release of the document was deliberately delayed, leaving stakeholders wondering what was behind the unexpected move.

The European Commission stressed that the proposal is not intended to become legislation, but rather serves as a platform for discussing policy issues without introducing a formal bill. Still, the delay could signal a path to stronger action in the future.

According to an insider familiar with the situation, the committee is currently grappling with a series of complex issues surrounding the virtual universe strategy, including the need to address the delicate balance between user privacy and technological advancement. Once established, the regulatory framework will have a profound impact on the digital space, affecting everything from gaming to social interaction and virtual commerce.

Given the delay, experts are now speculating on potential revisions and enhancements that the European Commission might consider. While specific details have not been disclosed, it is believed the committee aims to fine-tune the strategy to ensure a comprehensive and forward-looking approach to managing the virtual universe.

Critics say the delay in the virtual universe strategy has raised concerns about the EU’s ability to remain at the forefront of digital innovation and respond effectively to new challenges. With other countries and tech giants investing heavily in virtual universes, the EU risks being left behind in this rapidly evolving landscape.

With the virtual universe strategy postponed, attention now turns to the European Commission’s upcoming speech on the state of the EU. As preparations for the speeches are underway, policymakers and industry stakeholders eagerly await insights into the Commission’s vision for the future, renewing its commitment to harnessing the potential of digital technologies while ensuring a safe and inclusive environment for all metaverse.

As the European Commission continues its deliberations, one thing is clear: the virtual world remains at the center of policy discussions, and decisions taken in the coming weeks will shape the digital landscape in Europe and beyond. The final release of the delayed strategy will be scrutinized for its ability to address the complex challenges posed by virtual worlds while fostering innovation and protecting users.

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Filed under: Bitcoin - @ July 6, 2023 2:19 pm