Experts gathering this Friday morning at the University of Alicante highlighted an urgent call for public officials to understand and engage with the rapid shift toward a decentralized economy powered by crypto assets. The discussion explored how digital currencies and immersive technologies are reshaping public policy, citizen access, and economic participation. The dialogue touched on the opportunities and risks that come with metaverses and the broader Web3 ecosystem, underscoring the need for informed governance and safeguards that protect people while expanding financial inclusion.
The conference titled “New Problems Around Cryptoassets, Metaverses, and Digital Money” examined the current global financial order and where it might head in the coming years with the rise of Web3 and crypto assets.
What is Web3 and how will it change the internet?
The event opened with remarks from Maria del Carmen Sempere, a professor of Commercial Law, who presented the study and its focus on digital currency governance and the evolving structure of ICT regulation. The discussion emphasized the emergence of a more user-driven internet and a financial landscape of unprecedented complexity. Regulators face new challenges as these technologies redefine identity, privacy, and security while expanding ways to participate in the digital economy.
The speaker noted that individual identity will increasingly rely on digital credentials, linking traditional markets to immersive technologies. The key challenges identified were privacy and security, with the belief that technology should harmonize these needs. A renewed social compact and new digital rights may be necessary to support this transition.
Digital euro
Following the opening remarks, Pablo Sanz Bayon, a professor of Commercial Law, delivered a talk on the Digital Euro and future perspectives. He addressed the ongoing debate about money sovereignty in a world where decentralized technology can function as a payment mechanism within a global system. He described how money issuance is becoming more plural, with decentralized tools influencing the international monetary framework.
The discussion traced how the crypto era has evolved since 2009, with Bitcoin as a catalyst and newer crypto assets driving growth. Decentralized finance and stablecoins have helped to dampen market volatility, though questions about stability governance and the guarantor of confidence remain central. The rise of decentralized products continues to challenge traditional state sovereignty and regulatory approaches.
Invited attention also focused on the region’s regulatory trajectory since 2009. The dialogue explored Europe’s response in two directions: central bank digital currencies and a forthcoming framework for crypto assets. The potential shift toward heterogeneous digital wallets could redefine how people store and use value while regulators work to balance innovation with consumer protection and monetary stability.
The talk noted that in the near term, electronic wallets may become a more common way to manage money, though concerns about issuer reliability, volatility, and supervision persist. Stablecoins offer one path to reducing volatility, but clarity about the guarantor of stability remains essential for user confidence and market integrity.
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The discussion framed crypto markets as a period of rapid transformation, where digital currencies anchor a broader system connected to institutions and social structures. A move toward interoperability among different digital money systems is seen as a potential bridge to a more resilient financial infrastructure. The BIS and other international bodies are examining the implications of expanded cross-border digital money and how it could reshape banking operations and governance, including the risk of settlement disruptions if regulatory alignment lags behind technology.
Regulators are expected to introduce rules that govern digital euros and digital wallets within the next couple of years, seeking to balance innovation with consumer safeguards. While the promise of digital money is significant, attendees emphasized that risk management, trustworthy issuers, and transparent oversight will be crucial as the landscape evolves.
The possibilities and risks of the Metaverse
During a roundtable, experts explored the metaverse’s practical opportunities and emerging threats. The participants included university researchers, industry leaders, and technology executives who discussed real-world use cases and governance challenges. The dialogue highlighted how metaverses can blend physical and digital experiences, enabling new forms of collaboration, education, and commerce while raising questions about interoperability, data portability, and governance across immersive ecosystems.
Leaders noted that the metaverse is not just a tech trend but a platform that could reshape how communities organize, learn, and create value. They stressed the importance of responsible development, ongoing community involvement, and a clear vision for how digital assets and metadata should be managed within these spaces. A recurring theme was the need for practical standards and collaboration between regulators, researchers, and industry players to ensure broad access and meaningful protection for users.
The discussion also touched on how metaverses can empower creative economies and help democratize access to capital, all while maintaining ecological awareness. Attendees urged that the technology should serve people and communities first, with interoperability and responsible innovation guiding progress rather than fragmented efforts driven by purely competitive motives.
The event concluded with reflections on the European metaverse initiative, emphasizing the goal of decentralization to counterbalance large tech influence. Attendees agreed that any future framework should align technical advancement with compatible legal and ethical standards to foster inclusive growth in digital environments.
As the day ended, the consensus pointed toward ongoing collaboration among regulators, researchers, and industry practitioners. A balanced financial framework would emerge from open participation, ensuring that the metastore remains accessible to individuals while inviting contribution and governance from diverse stakeholders rather than serving as an alternative reality dictated by a single party.