A user's digital print could certainly be weaponized against them. However, Web 3 could reclaim privacy for the individual and bring power back to the people.
Big Tech companies recognized the pressure and increasing regulatory demand, so in 2018, the. Six contributors — Google, Microsoft, Apple, Twitter, Facebook and SmugMug — committed to enabling seamless data transfer among platforms via a common framework with open-source code. Still, it was just the first step toward users reclaiming their data.
In a nutshell, achieving data sovereignty means the user takes full control over their data. They finally get to know where it goes and what purposes it can be used for, while the data itself is not locked into a single platform.
Moreover, there’s no data sovereignty without data interoperability. As opposed to data monopolies, where users are locked into proprietary interfaces, Web3 is based on the idea of using noncustodial solutions. By using keys, users will be able to access the same set of their private data from multiple platforms and move it freely among storages and apps.
Meanwhile, builders and content creators will get access to new ways of monetizing their content. Tokens, both fungible and nonfungible, are the “likes” and “retweets” of Web3. These can be used to reward quality content and share pieces of data, all while making sure the creator gets a fair share of the royalties.And finally, as far as control over data is concerned, introducing decentralized governance is yet another way to topple the monopolistic power of Big Tech.
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