Security News > 2022 > March > Web3 and the future of data portability: Rethinking user experiences and incentives on the internet

Web3 optimists point to decentralized technology's ability to challenge the power of big internet middlemen like Facebook, Google, and Twitter, while Web3 skeptics understandably struggle to connect the dots on how the current state of Web3 applications could ever truly rival the user experiences and network effects that Web2's most successful tech companies have built.

When the friction of users' porting data from one service to another service approaches zero, companies will need to radically rethink how much value they extract from users without offering comparable incentives to that user.

While Web3 has the potential to reimagine how we use the internet, it also raises thorny issues around privacy, user experience, and how much control users truly want.

One thing is certain: in a Web3 world, users will navigate the Internet and gain access to its services in very different ways.

As users cruise the internet and use applications, the data from those interactions no longer solely lives on that single application's server.

Instead, users can have a single account for the internet in their Web3 wallet: think of this as a "Bring-your-own-account" architecture where the user verifies their account as they browse different websites, without the need to create a unique username and password for every site.

News URL

https://www.helpnetsecurity.com/2022/03/30/web3-applications/