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Ever since its creation back in 1989, the internet has changed how people all around the world interact with each other and organizations. With more than 85% of the global population being younger than 39, humanity is officially mostly composed of digital natives who were shaped by the internet and digital technology. However, having been born in the age of online services has made many of us unaware of the consequences of our reliance on such services, especially when it comes to our digital identities.
It is no secret that companies like Facebook and Google have gotten so effective at harvesting data that they can easily predict our interests. Have you ever had a conversation with a friend about a product, company, or place just to suddenly get ads related to it without ever having Googled it? Well, the good news is that Google is not listening to you. However, its algorithms have become so good at analyzing your personal data, that they can easily predict your interests by comparing your data with the one for those around you.
Unfortunately, while these facts certainly are alarming, the hard truth is that we have grown so used to such violations of our privacy that we no longer care about them. To many, not using such services is no longer an option… How are you supposed to “Google” something using platforms like DuckDuckgo?
The good news is that there are many people out there working to change this reality and bring the internet closer to the original vision of its creator by bringing control and empowerment back to users.
These are the ideals of Web3, a topic that has been making headlines for the best part of the last years, promising to be the next stage in the development of the internet. This iteration of the world wide web seeks to solve the existing identity problems we have gotten used to dealing with by giving us back control over our digital identities.
No matter how many approaches are being tested to achieve this goal, most of them rely on distributed technologies like blockchain to achieve a high level of decentralization, transparency, and security. Developers have embraced distributed technology due to its potential to be the backbone of the new internet. Despite the technology still being in the early stages of development, its use in industries like finance, supply chain, healthcare, retail, and telecommunications are testament to their benefits.
Gregory Gopman, Founder of blockchain consultancy Mewn and recently-appointed CMBDO at Ankr, refers to the role blockchain plays on the development of web3 by saying:
“Web 3 will come through and transform every industry around us in ways it’s too early to understand now, whether they utilize a blockchain or not. That’s because blockchain technology is only one part of things, just like notifications are just one innovation that came from mobile phones. “
Projects like Ankr, Polkadot, Ocean, and Solid promise to provide internet users like you to participate in the global exchange of information without having to rely on central authorities. This means that everyone would have control over their personal data, gaining granular control over what data they choose with certain services and in which way it can be used. Blockchain’s transparency would then allow users to keep track of how this data is being used, bringing accountability to an industry that has long operated without it.
While these platforms would be able to read this information to verify your identity, they wouldn’t be able to store it. Think about it: If a police officer were to ask for your driver’s license, how would you react if they decided to keep it? Why would you then allow a private organization keeps that picture of your driver’s license, your shopping history, chat logs, and more?
The decoupling of personal data and platforms via a modular model means that your identity would travel with you. If you need to prove your identity at any time, you could do so without allowing the platform to store it.
Unfortunately, this approach is not necessarily a bed of roses. Such a level of control over our own data would also mean accepting the responsibility of keeping it safe. When you consider that a single password collection published in 2021 by hackers compromised more than 8.4 passwords, you can see why this could be a scary scenario. Gopman says in this regard:
“When it comes to digital security, there’s almost nothing we do today in web2 that can’t be improved by the technological advantages made possible utilizing blockchain technology in the future”
It will still be some time until we see Web3 come to the mainstream and we can all experience it. However, only by keeping a close eye on its development and getting ready for what it will entail, we will be able to truly benefit from what it has to offer.
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This content is brought to you by Shahbaz Ahmed
Photo provided by the author with written permission from Mateo Evans.
