I support India’s new draft battery-swapping policy for electric vehicles, particularly since it promotes battery-as-a-service and emphasizes openness without being overly prescriptive. However, we should aspire to lead in developing standards that align with its market, leveraging its position as the world’s largest two-wheeler market, and its expertise in the EV sector, to assume global leadership in battery swapping standards.

John Perry Barlow’s 1996 “A Declaration of the Independence of Cyberspace” argued for internet exceptionalism, where the online world would be free from real-world regulations. This belief shaped the liberal terms of service on websites, but with the internet’s growth and concentration in the hands of dominant platforms, the enforcement of these terms has led to serious global consequences. Barlow’s vision of a more humane online civilization may have been overly optimistic.

European negotiators have agreed on the Digital Markets Act, a law aimed at regulating dominant platforms in Europe. A key focus appears to be interoperability, particularly among messaging platforms. While it is intended to increase competition, mandatory interoperability may degrade privacy and create conflicts with global technology platforms’ policies.

Larry Fink, Chairman of BlackRock has based on the Western response to Russia and the rapid termination of business with the country, declared that globalization is over. These events highlight the existing global interdependencies and vulnerabilities, prompting calls for reevaluation and redesign of global financial infrastructure. And ultimately a shift towards self-reliance.

The metaverse has ignited widespread interest, with companies from various industries rushing to participate. But we have been here before with a similar virtual world called Second Life that eventually failed because of a lack of understanding of what it would take to foster virtual engagement. The success of the metaverse will depend on community.

There has been an evolution of ownership from physical objects to digital assets - despite the limitations of digital ownership. Flow, a new blockchain technology, and Cadence, a programming language, together may enable true ownership of digital assets, in a way that mirrors physical ownership.

We can have a new international approach to data governance that draws inspiration from the Bretton Woods Agreement. This would call for the creation of a global alliance with a commitment to data protection as well as a Data Stability Board to coordinate regulatory dialogue, aiming for harmonization and interoperability in global data governance.

There are divergent approaches to data regulation across the US, China, and Europe. The US has a laissez-faire approach, China tends to be oriented towards state-centric control, and Europe is overtly rights-based. The growing schisms between these approaches are causing fragmentation, leading to a call for a common ground in global data governance.

The success of innovation doesn’t correlate directly with statutory or structural impediments, but rather depends on timing and the right set of circumstances. Creating environments conducive to serendipitous connections across unconnected disciplines can foster innovation.

Francis Fukuyama coined the term “vetocracy” to describe a gridlocked decision-making system where individuals can prevent policy implementation through vetoes. But while the physical world may suffer from excessive vetocracy, the digital sphere often leans towards autocracy. We need a balance between these two extremes and that is even more important in the context of India’s digital infrastructure. Vetocratic processes can be used to protect core principles, while maintaining flexibility to foster innovation.