In today's environment, many online services are free, but this often means that users pay with their personal information. How can Web3 address these issues? Let's explore further.
Free Services and Your Personal Information
There is a well-known saying: 'If the service is free, then you are the product.' This statement describes the situation where companies offering free services profit by selling user data. Data brokers and advertisers pay significant amounts, using your information for manipulation and targeted advertising. This has created a vast part of the modern internet landscape, making it difficult to opt out of these services, which have become integral to daily life.
Web3: The Response to Privacy Issues
Web3 is evolving as a response to the control over personal data established by major tech companies. This decentralized network allows users to manage their data and transform it into digital assets. Thus, your data becomes a personal 'home,' where you can let in only those who adhere to your rules and also get paid for it. For example, iExec offers solutions for secure communication, allowing users to manage their access to data and monetize it.
The Future Ahead: How Web3 Changes the Game
Examples of Web3 utilization continue to expand. Platforms like iExec not only offer users protection over their data but also allow them to profit from it. One should expect that as Web3 grows in popularity, more users will recognize the advantages it provides, countering the threat of data abuse by large corporations.
Web3 could represent a positive shift in data protection and monetization. This pursuit of decentralization and effective use of personal resources is becoming increasingly relevant in light of the growing trade of data.
