Privacy Technology Web3
If you have read much of my ‘Unity of Being’ series than you know that I do not blame anyone specifically for the rampant exploitation of privacy. It’s each of our jobs, not to blindly trust other sites and services to protect our data, our passwords, our identity, etc. This is our job, not theirs, do not blame ‘them’ for something each of us should be taking care of ourselves. This problem is simply a product of a long term Codex that is has been running for a very long time but now in this new age environment the problems and limitations are becoming clear.
Every network or platform you join has their own security and their own ‘set ‘ of your data. For instance, Facebook knows every post, every friend, every group and every password you’ve ever used on their platform. Similar goes for Google, Twitter, Myspace, Instagram and many others. If just one of these platforms master keys or passwords is cracked or leaked than the data of every member who ever joined the platform is exposed. If two of them are cracked then the two data sets can be linked two massive reservoirs of your data can merged together to form a fuller and more complete picture of you.
Your data becomes the property of someone else, to be sold on the open market or to be studied and analyzed for the purposes of exploitation, either by the hacker or by the owner of the platform. It can and will be used to manipulate you into being more domesticated or a better consumer or it might be used to steal your identity and to gain access to the financial institutions charged with securing your money. The possibilities are endless for exploitation and the hacker need only hack the Platform Admin Account to gain access to millions of peoples data.
Bitcoin and the blockchain are roughly 10 years old. Privacy coin blockchains are roughly 7 years old. Smart contract platforms are roughly 5 years old. Smart Contract Platforms with Privacy Built-In are less than 1 yr old and of this writing there is really only one platform available, The Secret Network. Within just a year or two there will be at least 5 more available, including the Dusk Network, TomoChain, Oasis Rose, Syscoin, Phala and maybe some others, but as of this writing the only actively running platform with built-in available Defi is the Secret Network.
For Example: I own several pieces of artwork purchased via the Secret Network. No one knows which pieces of artwork I own or what I paid for the artwork, because I used the Secret Network for the transactions. I can go to a specific url (let’s call this web3) that is capable of displaying artwork from the Secret Network, in my case this is https://stashh.io. Stash connects to the Keplr Wallet Extension, which is an extension that runs on Chrome compatible browsers, such as Chrome itself, the Brave Browser, Edge and others. The Keplr Wallet Extension connects to my Ledger Hardware Device. All of my Artwork is encrypted and connected in such a way that for Stash.io to display my artwork it makes a request to my Keplr Wallet Extension which intern gets approval from my Ledger Nano Hardware Device to sign and decrypt the data. In this way, all of my data is owned and controlled by me. I directly approve or deny every request for my data. Below are some screenshots.
Now imagine this or similar for all of your data, including your Medical History, Labwork, Financial Data, Bank Account Access, Property and Commodities, Titles, Deeds, Signed Contracts and other Legal Documents. The list is endless. You have control over your own data, no one else. You decide who gets to see it and under what contractual conditions they can look. You can give your Doctor permission to see the ultrasound images of your Abdominal Aortic Aneurism and the results of your latest Complete Blood Count Labwork and nothing more under the agreement that he/she show it no other without your permission.
Maybe you want to sell a piece of investment property and the potential new owner needs to see that you do in fact own the Electronic Blockchain NFT Title to that Property, so you provide him/her a one time viewing key that proves you are the owner. Easy peasy, without a Title Company or some Escrow Agent Holding or any other Intermediary getting between you and the buyer charging thousands of $$. Maybe you have to pay a small transaction fee to the Blockchain and/or a fixed small fee to the web3 service that interfaces between your digital signature and the Title and maybe this costs less than $1 USD or maybe it costs $5 USD.
At least it doesn’t cost you 1% or 2% of the cost of the home and hundreds or thousands in fees and it doesn’t require you signing a 100 page agreement, taking that agreement to your attorney so he/she can have a look, signing and scanning the document and then returning it to the various middlemen who then release the information to the buyer and creating 2 or 3 or 4 locations for your private information each of which with different levels of security and administrators who all have access, each of which a possible attack vector for your information.
Zero Knowledge Proofs are one of amazing technologies that can help Web3.
Web 3 Privacy Links:
Secret Network - The Data Privacy Platform For Web3.
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