We Lost The Internet
  • First developed for the military, the internet wasn’t always the closed, capitalistic ecosystem that it is now.
  • Before the tech giants staked their claim on billions of users, it was a decentralized place with no custodian.
  • Now, only a handful of companies control most of the internet, using addictive content and smart algorithms.
  • They use the vast amount of user data generated every minute for building tools to predict consumer behaviour and feed their AI engines.

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Your Personal Data: Its True Value, Power, and Why It Really Is The New Oil

hackernoon.com

User data is the fodder of AI(artificial intelligence) and is required for the global tech revolution. This personal information is the new oil, and individuals, who are the real and rightful owners of their data, are now starting to realize its value.

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  • The early days of Web 1.0 had users connecting directly with friends and family and most of the online stuff was unregulated.
  • Web 2.0 has been mostly about social media and companies using consumer data for their AI engines.

Web 3.0 aims to decentralize the internet by giving users complete control of:

  • Their data.
  • Their communications.
  • Their networks.
  • Their security.
  • Their privacy.

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Web 3.0, or the DWeb, is the Decentralized Internet and does not have any hosting company, making it completely democratic.

It is controlled by users themselves, and not by a handful of tech giants with valuations touching a trillion dollars.

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  1. No possibility of monopoly or control by big tech.
  2. Full security and privacy, due to its distributed nature.
  3. Complete encryption of user data with no exploitation by tech giants.
  4. Device interoperability for seamless and easy switching.
  5. No central hosting results in no service failure.
  6. Data is distributed in a semantic way across systems and platforms, bridging different data platforms and formats.

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  • Due to the non-compatibility of internet software and the high levels of technical skills required, work on the DWeb(Web 3.0) is facing slow developer adoption.
  • There is also the problem of having full security along with ease of use, as any security comes with censoring or restrictions.

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