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As technology continues to evolve, the importance of data ownership becomes increasingly apparent. In the era of web2, personal information is often exploited by tech giants for profit. However, the emergence of web3 has given users the opportunity to reclaim control over their data and generate value from it.
The Data Problem in Web2
In web2, users are often treated as products rather than customers. Tech companies like Facebook and Google have built empires by leveraging user data for targeted advertising. Unfortunately, this data is frequently mishandled, leading to privacy concerns among consumers.
The Data Solution in Web3
Web3 introduces a new paradigm where users can take ownership of their data through blockchain technology. Protocols like ERC-7231 enable users to aggregate their digital identities and monetize their data. This shift towards data self-sovereignty is driving innovation in various sectors, such as gaming.
Sharing in the Value of the Internet’s New Oil
As users become more aware of the value of their data, the desire for fair compensation and control over their online identities grows. Web3 offers a solution to these concerns by empowering users to participate in the profits generated from their data.
Conclusion
Web3 represents a new era where users can become builders of the internet, leveraging technology to address issues of identity, privacy, and monetization. By embracing data ownership and transparency, individuals can unlock the untapped value of their data.
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Paul Delio is the head of business development at CARV, a platform that enables gamers to integrate web2 and web3 gaming activities. With a background in critical roles at Real Madrid and Pocketful of Quarters, Paul is dedicated to advancing the data ownership movement in the digital space.
