EU stays on top of Web3 with metaverse, AI and crypto strategies
The European Union has been vocal about its place in the rapidly expanding ecosystem of emerging technologies.
It has been a leader in establishing clear crypto regulations with its long-awaited Markets in Crypto-Assets (MiCA) framework signed into law in late May. The EU has also been pushing forward on creating regulations for the development and deployment of artificial intelligence (AI) systems.
Most recently, on July 11, the European Commission released its latest plan to take the lead in metaverse development and prevent Big Tech from becoming too dominant in an economically viable sector.
A European vision of the metaverse
The latest EU proposal estimated that the global market size for metaverse developments will exceed 800 billion euro by 2030, compared with its end-of-year value of 27 billion in 2022. McKinsey’s latest report on the state of the metaverse even has an estimated value of $5 trillion in the same timeframe.
According to the commission’s initiative, it wants to get ahead on metaverse development to reflect EU values and fundamental rights, along with a push for openness and interoperability.
Margrethe Vestager, the vice president of the European Commission, said the EU needs to have “people at the center” in order to shape it according to its principles.
“We want to make sure Web 4.0 becomes an open, secure, trustworthy, fair and inclusive digital environment for all.”
The commission held European Citizens’ Panels in February and April of 2023, which focused on the metaverse. It aimed to formulate suggestions for a “vision, principles, and actions” that ensure EU-based virtual worlds are fair.
According to the commission, 140 EU citizens were randomly selected for participation, which resulted in 23 recommendations that guided the strategy.
Integrating digital and real worlds is no longer science fiction.
Early this year, 140 European citizens put forward 23 recommendations to guide the development of human-centric, secure and trusted virtual worlds.
See how they helped shape our new strategy on virtual worlds ↓
— European Commission (@EU_Commission) July 11, 2023
The current pillars that the EU has decided on for its metaverse strategy include empowerment and reinforcing skills to create a pool of specialists in the field of virtual worlds, supporting an EU Web4 on a business level, supporting societal progress and virtual public services, and shaping standards for open and interoperable virtual worlds.
But wait, what is Web4?
The European Commission’s tweet about its pillars for virtual worlds and Web4 strategy garnered a mixed response from users, with many asking what Web4 means, and other’s joking about developing Web5 and Web6 already.
According to the strategy, Web4 is distinguished from Web3 by integration with the real world. The commission’s statement recognizes that Web3 is still “currently developing,” with its main features being openness, decentralization and user empowerment.
“The next generation, Web 4.0, will allow an integration between digital and real objects and environments, and enhanced interactions between humans and machines.”
For the EU, Web4 could look like the introduction of smart cities with the right underlying infrastructure in place.
It is already investing in initiatives such as Destination Earth (DestinE) and Local Digital Twins for smart communities, as well as the European Digital Twin of the Ocean, which is said to allow researchers to advance science for the development of precision applications and help public authorities to make informed public-policy decisions on related issues.
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The commission also included “advanced artificial and ambient intelligence, the internet of things, trusted blockchain transactions, virtual worlds and XR capabilities, digital and real objects and environments” as full integrations in Web4 that will set it apart from Web3.
It claims this will enable a “truly intuitive, immersive experience, seamlessly blending the physical and digital worlds.”
On July 5, the European Blockchain Sandbox, which is part of its smart cities initiative, unveiled its first 20 use cases.
EU regulations in place
At the moment, Vestager said there are no current metaverse regulations drafted. However, she expects various other rules already in place to affect it, such as privacy, market power and forthcoming AI regulations.
As previously mentioned, the EU has recently signed its groundbreaking MiCA regulations into law, which became one of the world’s first comprehensive sets of rules to regulate the crypto industry.
On July 12, the European Securities and Markets Authority announced that it plans to release three consultative papers on its MiCA standards for crypto asset service providers while it fulfills its mandate under MiCA regulations.
There are already questions regarding the regulations’ policies on stablecoins and the exclusion of decentralized finance in the published regulations.
In addition to its recently published crypto legislation, the EU has been working on regulations that will affect the AI industry. On June 14, the European Parliament passed the EU AI Act, which would force tools like ChatGPT to disclose all AI-generated content and other measures against illegal content.
The race against big tech
All of these initiatives with virtual worlds and regulations for emerging technologies come as Big Tech companies like Meta Platforms, Microsoft, Apple and Google work on their own versions of the metaverse and AI tools.
The EU clearly stated in its metaverse strategy that virtual worlds will not be “dominated by a few big players” and should be “driven by open technologies.”
Meta, the parent company of Facebook, was openly committed to developing its own metaverse world accessible through its virtual reality headsets. However, by the end of 2022, the company lost billions due to its metaverse division.
In 2022, Microsoft announced a $69 billion acquisition of Activision Blizzard, one of the gaming industry’s key players.
Most recently, Apple dropped its latest version of its virtual reality goggles, the Vision Pro. However, instead of positioning them for use in the metaverse, it chose to use the wording “spatial computing.”
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Politics
Hundreds of NHS quangos to be axed – as plans unveiled for health funding to be linked to patient feedback
NHS funding could be linked to patient feedback under new plans, with poorly performing services that “don’t listen” penalised with less money.
As part of the “10 Year Health Plan” to be unveiled next week, a new scheme will be trialled that will see patients asked to rate the service they received – and if they feel it should get a funding boost or not.
It will be introduced first for services that have a track record of very poor performance and where there is evidence of patients “not being listened to”, the government said.
This will create a “powerful incentive for services to listen to feedback and improve patients’ experience”, it added.
Sky News understands that it will not mean bonuses or pay increases for the best performing staff.
NHS payment mechanisms will also be reformed to reward services that keep patients out of hospital as part of a new ‘Year of Care Payments’ initiative and the government’s wider plan for change.
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Do you want AI listening in on chats with your doctor?
Speaking to The Times, chief executive of the NHS Confederation Matthew Taylor expressed concerns about the trial.
He told the newspaper: “Patient experience is determined by far more than their individual interaction with the clinician and so, unless this is very carefully designed and evaluated, there is a risk that providers could be penalised for more systemic issues, such as constraints around staffing or estates, that are beyond their immediate control to fix.”
He said that NHS leaders would be keen to “understand more about the proposal”, because elements were “concerning”.
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Health Secretary Wes Streeting said: “We will reward great patient care, so patient experience and clinical excellence are met with extra cash. These reforms are key to keeping people healthy and out of hospital, and to making the NHS sustainable for the long-term as part of the Plan for Change.”
In the raft of announcements in the 10 Year Health Plan, the government has said 201 bodies responsible for overseeing and running parts of the NHS in England – known as quangos – will be scrapped.
These include Healthwatch England, set up in 2012 to speak out on behalf of NHS and social care patients, the National Guardian’s Office, created in 2015 to support NHS whistleblowers, and the Health Services Safety Investigations Body (HSSIB).
The head of the Royal College of Nursing described the move as “so unsafe for patients right now”.
Professor Nicola Ranger said: “Today, in hospitals across the NHS, we know one nurse can be left caring for 10, 15 or more patients at a time. It’s not safe. It’s not effective. And it’s not acceptable.
“For these proposed changes to be effective, government must take ownership of the real issue, the staffing crisis on our wards, and not just shuffle people into new roles. Protecting patients has to be the priority and not just a drive for efficiency.”
Elsewhere, the new head of NHS England Sir Jim Mackey said key parts of the NHS appear “built to keep the public away because it’s an inconvenience”.
“We’ve made it really hard, and we’ve probably all been on the end of it,” he told the Daily Telegraph.
“The ward clerk only works nine to five, or they’re busy doing other stuff; the GP practice scrambles every morning.”
Carrie Johnson – the wife of former prime minister Boris Johnson – has revealed she was admitted to hospital with severe dehydration, as she offered advice to other breastfeeding mothers in the hot weather.
Mrs Johnson, 37, posted a picture of herself and her newborn daughter Poppy Eliza Josephine on Friday in a hospital bed.
“Being hospitalised for two nights for severe dehydration was not on my postpartum bingo card,” she captioned the Instagram post.
Mrs Johnson urged other “breastfeeding mums” to make sure they eat and drink enough “in this heat”, especially those who are “clusterfeeding”.
Poppy was born on 21 May, becoming the couple’s fourth child after their son Frank, born in July 2023, daughter Romy, born in December 2021, and son Wilfred, born in April 2020.
Boris Johnson with newborn daughter Poppy Eliza Josephine Johnson. Pic: Carrie Johnson/Instagram
In a separate Instagram story, Mrs Johnson described an “honestly brutal week”.
“Mastitis (me), reflux (her), dehydration (me). What a pair we are!,” she said.
“But thank you for all the kind messages, especially all the brilliant advice on reflux. Really appreciate it and made me feel way less alone going thru (sic) it all. And as ever, thanks to our amazing NHS.”
Carrie and Boris Johnson after his resignation in 2022. Pic: PA
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The NHS recommends drinking plenty of fluids while breastfeeding – and avoiding caffeine and alcohol to stop their effects being passed on to the baby.
Having a drink nearby when mothers stop to feed is advised, as is water, lower-fat milk, and low-sugar drinks.
The UK Health Security Agency (UKHSA) has issued an amber heat health alert for the next four days.
Although not a public weather warning, it advises health and social care organisations of possible dangers to their patients and facilities.
Temperatures could reach 34C on Monday – with a 20% chance of beating the hottest June day on record of 35.6C from 1976.
The likelihood of record-breaking temperatures could increase over the weekend as the day approaches.
Sir Keir Starmer has said fixing the UK’s welfare system is a “moral imperative” after the government’s U-turn.
The prime minister faced a significant rebellion over plans to cut sickness and disability benefits as part of a package he said would shave £5bn off the welfare bill and get more people into work.
The government has since offered concessions ahead of a vote in the Commons on Tuesday, including exempting existing Personal Independence Payment claimants (PIP) from the stricter new criteria, while the universal credit health top-up will only be cut and frozen for new applications.
Speaking at Welsh Labour’s annual conference in Llandudno, North Wales, on Saturday, Sir Keir said: “Everyone agrees that our welfare system is broken, failing people every day.
“Fixing it is a moral imperative, but we need to do it in a Labour way, conference, and we will.”
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Starmer defends welfare U-turn
Sir Keir also warned of a “backroom stitch up” between the Conservatives, Reform UK and Plaid Cymru ahead of next year’s Senedd elections.
He said such a deal would mark a “return to the chaos and division of the last decade”.
But opposition parties have hit back at the prime minister’s “imaginary coalitions”, with Plaid Cymru accusing Labour of “scraping the barrel”.
Reform UK said the NHS “isn’t safe in Labour’s hands” and people are “left waiting in pain” while ministers “make excuses”.
Voters in Wales will head to the polls next May and recent polls suggest Labour are in third place, behind Reform and Plaid.
Labour have been the largest party at every Senedd election since devolution began in 1999.
Conservative Party leader Kemi Badenoch has not ruled out making deals with Plaid Cymru or Reform at the Senedd election.
Read more:
This has been the PM’s most damaging U-turn yet
Is Starmer at the mercy of his MPs?
At the conference, the prime minister was joined on stage by Wales Secretary Jo Stevens, First Minister Eluned Morgan and deputy leader of Welsh Labour Carolyn Harries.
He described Baroness Morgan as a “fierce champion for Wales” and “the best person to lead Wales into the future”.
Sir Keir said the £80m transition board to support Port Talbot steelworkers after the closure of the plant’s blast furnaces was a result of “two Labour governments working together for the people of Wales”.
He described Nigel Farage as a “wolf in Wall Street clothing” who has “no idea what he’s talking about” on the issue.
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The PM said the Reform UK leader “isn’t interested in Wales” and has no viable plan for the blast furnaces at Port Talbot.
“When you ask him about Clacton, he thinks he’s running in the 2.10 at Ascot,” Sir Keir joked.
“He’s a wolf in Wall Street clothing.”
Mr Farage has said his party wants to restart the blast furnaces at Port Talbot.
Around 20 tractors were parked on the promenade in Llandudno ahead of the speech, as farmers gathered outside the conference to stage a protest.
It was later followed by a pro-Palestine demonstration of around 200 people, with around a dozen counter-protestors also in attendance.
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