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The next reboot of the Internet will be the most transformative yet. The opportunity to own and profit from owning your data represents a decentralization of control and power. It is a democratization of the Internet. And it's known as Web3. However, it is critical to first stake a claim of ownership, an approach we've championed as Digital Identity Sovereignty", to fully benefit from the changes to come. Notwithstanding how data-as-property is designed into the Web3 architecture as a transaction-based system, property rights under the law require attentiveness and management.
The thrust of this article is not to describe the attributes of the decentralized Internet. That has already been done by others, and in my prior writings, just follow the links from here: https://medium.com/@depepped44/ownership-of-data-through-the-lens-of-blockchain-the-strategic-advantages-623108c71c60. Instead, the point here is to cut through the white noise surrounding the "metaverse" so as to illustrate how tremendously transformative and empowering Web3 will be for data owners. Ownership and monetization of data, enabled by Web3, is the central idea. But nearly as important, Web3 needs to be appreciated for how it will enhance trust around privacy – because data owners will have an incentive to protect their data.
Properly understanding the cybersecurity and empowerment dimensions of Web3 is especially important at this juncture to put a positive spin on the future at a time when distrust surrounding NFTs and crypto and the metaverse are tainting the popular perception. All the hype arising from them has undercut the trust virtues of Web3. Accordingly, this piece will refer to "Web3", rather than "blockchain", "crypto" or "the me ..
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