UK’s New Technology Department to Tackle Country’s Metaverse, Web3 Strategy

The nation’s 2023 Spring Funds, launched in March, mentioned the federal government wished to “lead on the way forward for internet know-how, typically often known as Web3 or the metaverse.” The brand new tech division, arrange in February, will lead the cost on this work. The division’s work is not going to concentrate on particular applied sciences like blockchain and digital actuality however will as a substitute take a look at potential financial development alternatives, funding and enterprise fashions related to ideas together with the Metaverse and Web3, together with implications for regulation, in accordance with the supply.