Carrying out horizon scanning activities in relation to key emerging technologies is a core aspect of DRCF work. The project team aims to anticipate key emerging technologies and develop strategic regulatory responses to these developments. The focus for the horizon scanning programme in 2022/23 was to convene events on specific topics with invited experts, followed by publishing blogs and insights papers to share learnings. The team held a series of symposiums – on the metaverse, Web3 and quantum technologies. These events brought together academia, industry, government and regulators to discuss the development, risks and opportunities of these technologies and their potential regulatory implications.
In the coming year, the team will prioritise two topics for further work:
- How ‘digital identity’ might evolve across multiple technological areas in the medium term: This includes considering developments such as decentralised digital identity, identity within open data frameworks, international examples of digital identity deployments and many others. Digital identity is one of the key enablers of many technological evolutions in the market and could have an impact on all DRCF members’ regulatory remits.
- What type of business models might develop within virtual environments and how this may create new products and services, and may impact consumers, across all DRCF members’ regulatory remits: The project team will consider which business models could drive investment, increase monetisation, and influence adoption of these new technologies. It will also look at the role of standards and interoperability, and how this drives the creation of new business models, products, and services.
Web 3 blog