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A coalition of British lawmakers engaged in the metaverse to communicate with global leaders during a 51-nation assembly on Sept. 20, outlining a vision for the United Kingdom’s blockchain and Web3 sectors.
The metaverse event featured eight British Lords and politicians discussing the prospects and challenges associated with the advancement of Web3 technology.
Natalie Elphicke, a member of parliament and chair of the newly established All Party Parliamentary Group (APPG) for Blockchain Technologies, appeared as her distinctive avatar in the metaverse, where she emphasized the significance of the next phase of the internet:
“Web3 signifies a transformative shift that redefines the very essence of the internet.”
As chair of the APPG on blockchain technologies, I was delighted that my Avatar Natalie and I could participate in the British Blockchain Association’s Global Summit today to deliver a keynote address – conducted in the metaverse. @Brit_blockchain @APPGBlock pic.twitter.com/hDriQA5rAv
— Natalie Elphicke MP (@NatalieElphicke) September 20, 2023
In her keynote address, Elphicke asserted that the U.K. has the capability to evolve into a blockchain-enabled “smart country,” but acknowledged that the nation is “falling behind competitors” in securing blockchain-related employment.
The foremost national priority for the U.K. is the expansion of the Web3 industry and workforce development, she stated, before adding:
“Part of that involves making the U.K. an appealing hub for Web3 founders, developers, programmers, and companies to operate here.”
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Natalie Elphicke metaverse avatar. Source: APPG
Elphicke advocated for the creation of additional national blockchain roadmaps and increased collaboration among nations, noting that to date, fewer than 12 countries have released such roadmaps.
She indicated that another priority is advancing the National Blockchain Roadmap, which was published in 2021. This roadmap outlines an ambition to establish a blockchain-based “digital nation,” with the technology being utilized for climate mitigation initiatives, industrial symbiosis networks, and digital identity projects.
Natalie Elphicke’s metaverse avatar. Source: APPG
She also addressed DeFi, indicating that it presents “distinct challenges and opportunities for regulators and policymakers,” while adding that “ensuring transparency, auditability, and accountability in these ecosystems is essential.”
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The Conservative Party member also discussed the tokenization of real-world assets. “It is undeniable that our world is undergoing tokenization,” she remarked, before adding, “Physical assets are being tokenized, and this trend will only continue to expand.”
However, on Sept. 19, the Online Safety Bill, which aims to regulate specific U.K. internet services, including activities within the metaverse, was approved by parliament.
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