Sunday, June 23, 2024

EU’s Handling of Crypto Legislation Inadequate, Lacks Expertise: French Researchers.

The French government believes that the European Union’s handling of key crypto legislative packages is inadequate and lacks expertise. Researchers believe Europe should not be quick to dismiss the metaverse which it sees as a superset of virtual augmented and physical reality.

They advised the EU should hasten to try and regulate it. The researchers said the metaverse must remain plural and open like it was done with the internet for it to become successful. The French report attempts to create a workable definition for the metaverse term by providing some essential characteristics. It describes the metaverse as an immersive, three-dimensional virtual world that is shared by users. The report highlighted the need for such worlds to exist in real-time and persist even when users are not present.

It also noted some confusion about the use of capitalized Metaverse which is being used interchangeably. The report sees metaverse with a capital M as more of an abstract concept that describes principles within which the actual metaverse spaces are implemented. It believes that subverting the projected image of the metaverse would be essential to its effective implementation in society. The researchers say it is important to question with suspicion the constraining and restrictive visions held by others, whether by private actors like Meta/Facebook or foreign public powers like China and South Korea. They believe the respective players’ visions could help shape the imagination and impact daily lives.

Various players in Silicon Valley have put forward strategies as to how to go about the future of immersive technologies. They are customizing their applications to a more professional audience/users as well.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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