Virtual Worlds and the Metaverse

The EU is taking virtual worlds and web 4.0 seriously, working on policies and rules to shape this new online world. They see virtual worlds as a big engine for new ideas and economic growth. The potential is massive, with projections of 800 billion euros in revenue and 850,000 new jobs by 2030. However, there are challenges, such as educating people about virtual worlds and bridging the skills gap. The EU has a comprehensive strategy with four pillars: empowering people, supporting business growth, improving government services, and promoting openness and global governance. They also gathered input from citizens through a citizens panel to shape their strategy, with recommendations focusing on accessibility, privacy, education, and awareness. The EU aims to develop virtual worlds responsibly and ensure that everyone can benefit from them. They are also working on global governance to establish common rules and standards. Welcome to the legal place the show that makes legalese understandable and you know actually kind of interesting Uh, yeah, I'd say so today. We're diving deep, you know deep dive style into virtual world. Oh Sounds futuristic. It does doesn't it and web 4.0, but it's not just for techies, right? Right. This is for everyone if you're online at all, this is gonna matter Businesses everyday folks, you name it these virtual worlds. Sometimes they're called metaverses. They're becoming a big deal huge Huge and the EU they're ahead of the game here They're working on policies rules all that to make sure this whole new online world It's a good place to be a place where you know things work. Well, like a well-oiled machine They've even got documents a whole bunch of them that we're gonna go through today So you can see what's coming the legal side of things. Yeah, we'll break it all down make it clear. So virtual world Yeah, what are we talking about here before we get into the laws and all that? Okay, imagine online But it's like you're really there. I see you've got your avatar It looks just like you and the graphics everything's so realistic You can go to a concert visit a museum work on projects with people, but you never leave your house Well, that's like ready player one stuff. Yeah, exactly, but it's not just a movie anymore and the EU's taking it serious dead serious Yeah, they say by 2030 a lot of us will be in these virtual worlds every single day And they're not just watching waiting to see what happens. They're making rules trying to shape things You know or to make it good make it good. Yeah, that's where these EU documents come in They've got a whole vision, you know European approach to web 4.0 and all this virtual world stuff and they see it as this big engine for like New ideas and the economy growing all that exciting times But web 4.0. Yeah, like it unpack that a bit. What's the difference between that and Like the Internet we're using now. Okay, think of it like this Web 4.0 is the next step the next evolution of the Internet It's all about blurring the lines, you know between the real world and the online world So it's like a super connected Internet super connected and smart to more immersive more intelligent. Everything's just more connected Okay, so virtual worlds. They're like a piece of this web 4.0 puzzle exactly There's the spaces where we'll be hanging out working playing all of that But in this new digital world and the EU they want to make sure this digital world it reflects their values, you know What they believe in got it. Yeah What are some of the good things the opportunities they see and the challenges too because I'm sure there are some oh, yeah Definitely there are the potential it's massive like the EU is talking 800 billion by 2030. Whoa, that's a lot of zeros It is and eight hundred and fifty thousand new jobs in the EU by 2025 just from this Wow Where's all this growth gonna come from it's everywhere, you know health care education art anything you can imagine Imagine getting diagnosis faster treatments that are like totally new in health care or training programs in education. They're more efficient way more engaging and Museums. Yeah, what about imagine you're right there in the museum experiencing it all but you're actually at home And this isn't just like artsy stuff Logistics Manufacturing they could benefit to also staff training across the world testing out prototypes But no one has to actually travel interesting interest. Okay, so a lot of potential upside Yeah, but what about the hurdles the challenges they're thinking about right? Well, a big one is just people knowing about it a lot of folks They don't get virtual worlds yet the potential and all that so we need to educate people Build trust so they're not scared of it like the early internet days exactly people were like, what is this thing? What can it do for me? Right, right, then there's the skills gap skills gap Yeah to really get involved in this new digital world people need new skills You know how to use it how to work with it and the EU they're trying to fix this with training and education So they're thinking about the people do oh, yeah big time. It's not just about the tech itself It's about getting people ready for it. And that's a big theme in all these documents It's about people making sure this tech helps everyone not just a few lucky ones. That makes a lot of sense So, how are they doing this? What are the concrete things the steps they're taking? Well, one big one is this whole strategy They've made this comprehensive strategy on web 4.0 and virtual worlds and it's got four parts four pillars To guide how this tech is made and used but in a way that benefits everyone, you know Okay, so there's four pillar strategy. That's their main plan. You got it. What are these pillars then? All right, so pillar number one empowering people and reinforcing skills That's about making sure people have the knowledge the skills the confidence to really get into these virtual worlds So giving everyone the tools they need to thrive. Yeah, exactly They're gonna create this online thing like a pool of virtual world Experts that anyone can go to get info get guidance all that They also want to put money into digital literacy programs teaching people how to use this stuff So like a guide for the digital jungle. Yeah, pretty much now pillar number two is business Okay, they get that a strong web 4.0 industry in Europe is super important for the economy for new ideas all that So they're not just trying to control it. They want it to grow Yeah, they're starting this European partnership thing to help research and new ideas in web 4.0 tech They're also working on a roadmap a technical roadmap to guide like how these technologies are developed Oh, I see. So that's helpful for businesses wanting to get into this whole virtual world, right? Right now pillar number three is all about government They see virtual world as a way to make government better make public services better make it easier for people to you know Interact with the government interesting. So it's not just about how this affects people in businesses directly It's about how it can be used to improve things for everyone like at a societal level You got it. Cool. Imagine virtual reality therapy for folks who can't like travel to a clinic or Platforms where people can participate in government decisions all virtual. That's really cool. We can change everything for sure And finally, we've got pillar for openness and global governance Openness they want to make sure virtual worlds are developed in a way that's open. That's inclusive, right? So not just controlled by like one big company. Yeah, no digital monopolies. They want open standards fair rules So everyone has a chance big tech companies small startups everyone got it. Yeah, that sounds really important but tough to write Yeah, how do you make sure things are fair and open in a space that's changing so fast That's the million-dollar question and that's something we're gonna dig into in the next part of our deep dive. Perfect. I'm already hooked This is fascinating stuff. It is it is one of the really cool things about how the EU is doing This is they're actually asking people, you know citizens what they think makes sense, right? Yeah, cuz we're the ones who'll be using these virtual worlds living in them working in them exactly So how do they do that? They have this thing called a citizens panel They got a hundred and fifty people from all over the EU just everyday folks Picked randomly and they all got together to talk about virtual worlds like what they hoped for what worried them all that So they went right to the source Straight to the source and they got 23 recommendations out of it He is taking me seriously trying to work them into their whole strategy 23. That's a lot Yeah, it is. One of the big ones was accessibility The panel said virtual worlds got to be for everyone no matter how old you are what your abilities are You know if you're rich or poor None of that should matter that's huge, right? We don't want a digital divide where only certain people can get in right? Everyone should benefit and another biggie was privacy like what happens to your personal data in these virtual places who has access to it How is it used? Yeah, that's a big one I mean if we're spending more and more time in these virtual worlds our data is everywhere, right? Yeah, and the EU gets it They're already known for having strict data protection laws and they want those same rules to apply in virtual worlds, too So they're building on what they already have making sure these new technologies are developed responsibly exactly But it's not just privacy the citizens panel also talked about Education awareness people want to know what these technologies can do good and bad, right? They want to know how to use them safely responsibly like learning a new language. You got to know the rule. That's it That's it and the EU they're on it. They're investing in programs to teach digital literacy They're making educational stuff to help people understand this whole virtual world thing So they're really trying to empower people make them active participants not just you know, passive users exactly And that's what I like about how the EU is approaching this They're thinking about the people the ethics the whole picture not just the tech itself. That's a big deal I think it's not just about shiny new gadgets. It's about building a good future for everyone couldn't have said it better and One of the ways they're doing that is by focusing on global governance. They know this stuff doesn't stop at borders, right? We can't have every country doing its own thing make it up its own rules Exactly. It'd be chaos So the EU is working with other countries international groups Trying to get everyone on the same page about how to develop and use virtual worlds web 4.0 all that that makes us we got to work together on this make sure these technologies are used ethically responsibly everywhere totally and The EU they're in a good position to lead this, you know, how so they've got experience with data protection digital rights Ethical AI all that so they're not just talking. They've got the know-how. Yeah. Yeah, and remember those four pillars We talked about the strategy. Yeah, which one's designed to tackle these global challenges. Okay, let's go back to those pillars for a sec How do they specifically address things like global governance ethical development all that? I'm especially curious about that fourth pillar Openness and global governance. What does that actually look like in action? Well, one big thing is open standards making sure different virtual worlds can connect to each other Talk to each other like websites on the internet, so we don't end up with a bunch of walled-off virtual worlds that can't communicate Exactly. It's got to be one big connected digital world and that you use also pushing for fair competition, you know So no one company takes over the whole thing, right? They want smaller companies startups to have a chance to alongside the big guys and what about ethics? How are they ensuring these technologies are developed ethically? They're working on guidelines, you know for things like data privacy making sure algorithms aren't biased and how to moderate content in virtual worlds That's good trying to anticipate problems before they happen exactly and they're not doing this alone They're talking to people from different areas industry universities, you know citizen groups getting everyone's input So it's a team effort. Basically it is it is and one of the things they're really focusing on is what happens to jobs jobs Yeah with web 4.0 and all this automation AI There's a lot of worry about jobs disappearing, right? That's a big concern so the EU is investing in programs to help people learn new skills So they can get the new jobs that will be created in this digital economy That's smart. It's not just about the tech. It's about making sure people are ready for it Exactly. They see this as a chance to make new jobs better jobs, but people need help getting there It's about investing in people as much as the technology itself. Absolutely. And that's what I admire about how the EU is doing this They're thinking about the whole picture the social side the economic side not just the tech. It's a more human approach I guess you could say yeah. Yeah, definitely It's not just blindly embracing tech for tech's sake. They're really thinking about how it'll affect people's lives Trying to make sure it's used for good. That's really encouraging to hear. So we've talked a lot about the individual pillars, but How do they all fit together? You know, how do they create this overall vision for the future of virtual worlds? Well, it's like this think of it like building a house, right? You got to start with a strong foundation. Yeah, okay So that first pillar Empowering people and reinforcing skills. That's the foundation It's making sure people know how to use this stuff have the skills to be a part of this new digital world Without that the rest of it. It wouldn't work as well, right? The other pillars would be shaky exactly then you've got the second pillar business That's all about making sure Europe has a strong web 4.0 industry, you know Lots of innovation lots of economic opportunities, but it's not just about letting businesses do whatever they want right there to be rules Uh-huh. It's got to be responsible and it's got to fit with what the EU believes in their values So a balance between letting businesses grow and making sure they're doing it the right way Yeah, that's it. And that's where the third pillar comes in government It's about using this tech these virtual worlds to make government better better how more efficient, you know Easier for people use government services all that and this pillar it makes sure the good stuff from virtual world It benefits everyone not just a few it helps solve those big societal problems So the government is not just watching this happen. They're actively involved in shaping it. Oh, yeah big time They're putting money into research making guidelines and figuring out new ways to use virtual worlds for good And then you've got the fourth pillar Openness and global governance that kind of ties it all together How so it's about making sure virtual worlds are built in a way that's open fair and that everyone's working together You know all the countries the organizations everyone. Okay, so they're trying to create like a global rulebook for a virtual world Yeah, something like that. But how do they actually make that happen? Like the EU can't tell other countries what to do, right? Exactly. So how do they enforce these ideas on a global scale? Well, they can't exactly force anyone but they can use their influence influence out through trade deals You know talking to other countries being good example The EU is already seen as a leader in data protection digital rights all that so people listen to them I see so by showing everyone how it's done and by working with other countries They can encourage everyone to follow the same principles That's the idea build a coalition of the willing folks who share the same values and want to build this future the right way That makes sense. It's more about collaboration and control exactly and they're not just talking about it They're actually doing stuff to make it happen Funding research projects helping startups creating these test beds for new tech putting their money where their mouth is That's it. And they're still talking to citizens getting their feedback Making sure their concerns are addressed remember that citizens panel we talked about that's a big part of it So it's a big group effort government's businesses researchers Everyday people all working together. You got it, and they know this isn't over You know, this tech is going to keep changing new challenges will pop up new opportunities They're ready to adapt to stay ahead of the curve. It's like sailing in uncharted waters got to be ready for anything Perfect analogy and the EU they're well equipped for this voyage. They've got a history of innovation a strong commitment to human rights and They're willing to work with everyone. Well, this has been a fascinating deep dive Thanks so much for explaining all of this my pleasure always happy to talk about this stuff I think our listeners have done a lot out of this this whole virtual world thing web 4.0 It's only going to get bigger and it's good to know that you use taking the lead on shaping it It is it is and the best part the future is still being written We all have a say and how it turns out that's a great thought to leave everyone with to our listeners Stay informed join the conversation and let's build this exciting new world together. That is all for today We hope to see you soon at the legal place. And in the meantime as we always say keep learning