Web3 is the logical next step for the internet.

Currently, we give away all our data to central platforms, where they decide what is and what is not allowed. They also breach our privacy by performing data mining on our personal data. We're convinced that this shouldn't be the case, and that it can be overcome by migrating towards Web3.

Web3 consists of a few technologies that can enable this change. First of all, we have blockchain. Using blockchain we can own things (be it money, art, deeds or other items) without a central party to decide what we can do with it or how we can transfer these to other people. The blockchain becomes a new central data store, which is owned by nobody.

Next up, we have self-sovereign identity. SSI aims to revolutionize identity and credentials. Think of your identity card, student id or degree. These can all be transformed by SSI, allowing anyone to verify that you are indeed a holder of this credential without necessarily trusting you.

Lastly, we have data vaults that can revolutionize the big platforms by storing your data in your own data vault. Centralized platforms would then access your data from your data vault (if they got access to it). If you change or add data in your data vault, it is reflected on all connected platforms immediately. If you restrict access to part of your data, they lose that access immediately. This way, data is deduplicated and your privacy is better enforced.

Interested in this course where we'll dive deep into Web3?

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