When Courts Control DeFi
Over the weekend the European Union kicked off its “citizens’ council” meant to solicit feedback on the metaverse, with its recommendations to be sent to the European Commission for consideration as it tackles regulation in the virtual world.
Patrick Grady, a policy analyst at the Center for Data Innovation, was there and recapped the experience in a blog published this morning, providing a few key takeaways from a weekend that featured a virtual Bruegel Room, some airing of digital grievances, and, for some reason, an improv comedy troupe
Despite Grady’s praise that the session was “A leading experiment in democratic policymaking and invigorating to hear citizens input and experience on a pressing initiative,” the post features plenty of negative feedback for the Commission. Grady argues that the Commission “stack[ed] the deck” by loading the panels and programming with its own staffers, giving the EU citizens in attendance a relatively one-dimensional view of the nascent VR industry, among other things.
He added in an email to DFD that “The Commission should pay for and observe the process but remain impartial to it because it is for the citizens, not them, to decide what the topics and priorities should be,” and the next council “must not make the same mistakes.”
