Revealed: ‘Unprecedented’ Global Governance Leak Unveils Disruptive Crypto Plan Capable of Disrupting Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron, and Litecoin Prices
Bitcoin, ethereum, and other major cryptocurrencies have experienced a crash in their prices due to the decline of metaverse digital world hype and global monetary tightening. Now, Binance CEO hints at the start of the next crypto price bull run, while a leaked European Union (EU) draft document reveals plans for a “global governance” system for virtual worlds. The document highlights the benefits of virtual worlds in healthcare, education, and culture, and emphasizes the need for new forms of global governance, such as decentralized autonomous organizations (DAOs).
The EU is expected to call for international engagement on topics like technological standards, identity management, censorship, and surveillance to shape the next generation of the internet as an open and secure space. In early 2024, the EU will create “regulatory sandboxes” to test out projects and address the risk of dominant companies blocking competition from smaller rivals. The EU also plans to establish a technical multi-stakeholder governance process for virtual worlds and web4, which represents the integration of physical and virtual worlds.
The concept of a metaverse has resulted in cryptocurrencies being tied to sentiment around its potential, as traders and investors speculate on which cryptocurrencies could form the basis of a digital economy or create scarcity in virtual worlds. While venture capital investment in the sector has declined since 2020, there has been a recent surge in crypto venture capital investments, indicating positive momentum and potential opportunities for companies operating in this space.
Barry Downes, managing partner at Sure Valley Ventures, suggests that despite current challenges, the metaverse sector will experience resolution in the next seven years. He believes that hardware advancements, such as Apple’s augmented reality headset, will contribute to the growth of applications in the metaverse.
In summary, the cryptocurrency market has seen a decline in prices, but there is anticipation for the start of the next crypto price bull run. The EU is planning to establish a global governance system for virtual worlds, recognizing their potential in various sectors. Despite challenges, there are opportunities for companies operating in the metaverse sector, with venture capital investments showing positive momentum. The advancement of hardware and technology is expected to contribute to the growth of the metaverse and its applications.
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