Web 1.0, 2.0, 3.0; InfoSphere; Metaverse : An Overview. Monetary, Financial, Societal and Geopolitical Transformation Cusps

This paper offers a critical survey of the three overlapping domains of the phygital world: the Web, the Infosphere, the Metaverse, and their innovative components – blockchain, distributed ledger technology, cryptoassets and cryptocurrencies. This requires a (bold) attempt to synthetize the main features of the three rapidly evolving spheres. Digitization is the fundamental driver of change in today’s societies, economies and financial systems. Two areas are of special importance: money and geopolitics. Political and regulators’ surveillance shape the digitization process, notably in the areas of cryptos, finance and defence. The phygital domains exhibit similar features but are still well distinct. The prospect of a rapid convergence, as a result of shared digital advances and of objective commonalities, may prove deceptive. More realistically, tipping points or systemic fractures - notably in terms of money, finance and geopolitical competition - should be avoided. The road to promoting constructive convergence, fostering use of digital advances and enacting appropriate internationally coordinated regulatory frameworks should be maintained open