![]() Web4, an evolution of the internet that began with the email-based web 1.0 before growing to the social media and Silicon Valley-centric web 2.0 that remains pre-eminent but has been challenged by the decentralized blockchain and crypto technology of web3, would in theory herald the seamless integration between the physical and virtual worlds. "The Commission will support the creation of a technical multi-stakeholder governance process to address essential aspects of virtual worlds and web4 that are beyond the remit of existing internet governance institutions," thought to be referring to the global bodies that prop up the internet and its protocols such as the Internet Corporation for Assigned Names and Numbers (ICANN). ![]() It also warns of the risk of gatekeeper" companies blocking out competition from smaller rivals. In early 2024, the European Commission will create "regulatory sandboxes" that can be used to test out projects. is expected to call for international engagement on topics such as technological standards, identity management, censorship and surveillance when the paper is published, possibly as soon as next week, to ensure the next generation of the internet "is shaped as an open, secure space, respectful of E.U. ![]() "This technological shift also involves new forms of global governance"-such as crypto-based decentralized autonomous organizations (DAOs). "Virtual worlds bring unprecedented opportunities in many societal areas," the leaked European Commission paper seen by Coindesk read, citing benefits for healthcare, education and culture. ![]()
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