As we move further into the era of digitization, a pertinent question arises: Is 2023 the year we regain control over our personal data? In an era where big tech and media entities maintain a parasitic relationship with consumers, contributing to a prospective future of self-sovereignty seems more pertinent than ever.
The disturbing truth is that in recent years, millions of people worldwide have thoughtlessly shared their personal data online without real consideration. This carefree approach has resulted in numerous legal repercussions, with entities like the New York Times and social platforms like TikTok facing litigation due to alleged data harvesting. In an unsettling turn, users can even be blocked from accessing their data or risk losing it entirely on these platforms.
However, should we consider embracing self-sovereignty, our relationship with our data could drastically change for the better.
Self-sovereignty, a term that surfaced in 2005, essentially embodies control over your online identity and the allocation of your personal data. An address on Ethereum can serve as an example of self-sovereignty because it is autonomously created without a higher authority. The power to validate signatures does not require any up-level approval.
Embracing self-sovereignty demands a shift from Web2 infrastructures to blockchain and cryptographic technologies. Contrary to centralized systems, decentralization grants individual control of one’s data, identities, and credentials. But it is not that simple to prioritize sovereignty in our data-driven world. Sovereignty is central to a modern free society, demonstrated by the myriad of constitutional amendments dedicated to protecting it. However, we are yet to apply these protective measures to our online activities, and this requires immediate attention.
Unfortunately, it’s unlikely that companies will willingly limit their data harvesting activities without legal intervention. Industries are profiting from our data, and despite the high risk and repeated breaches, wider adoption of Web3 technologies alongside government support remains a prerequisite to any significant action. Web3 technologies promise individuals peace of mind concerning the security of their data.
Despite the prominence of discussions linking Web3 to blockchain or cryptocurrency, the true essence of Web3 is about sovereignty. Just as we strive for freedom, we must also strive for sovereignty to avoid losing it. That said, the road to making self-sovereign data useful is long, particularly as the technology is still in its infancy and requires extensive real-world infrastructure and new coding paradigms to be fully realized.
Looking forward to a future with blockchain technology and decentralized systems, it’s time to ask: Are we ready to embrace a greater degree of control over our personal data in 2023?
Source: Cointelegraph
