Arcana’s Privacy Predictions for 2022!
Privacy has become a hot topic over the past few years. Although massive developments have been undertaken to help protect privacy and user data, unfortunate events such as security breaches and identity theft still continue. With blockchain entering the scene, it’s emboldened the community of developers with a renewed sense of hope that privacy will be given its due — it won’t be just a mere afterthought.
As we always like to say, privacy will be a first-class citizen on every app.
Here are some Arcana 2022 privacy predictions:
- Privacy coins 🚀
As regulations clampdown, privacy coins will take off. Institutions/KYCed platforms will deny liquidations/delist them. Subsequently, their volume on defi will surge and will drive adoption for different use cases.
- Decentralized encryption providers 🔒
With Governments and other organizations enforcing anti-end-to-end encryption policies around the world, users and platforms are bearing the brunt of this. This will see the use of more decentralized encryption providers.
- A surge in creator-led, web3 platforms
Web2.0 platforms have long harvested our data and leveraged it to become cash-rich. This changes in 2022. We’ll have more web3 based creator-led platforms with user-owned data — incentivizing the community.
- Seamless yet secure interoperability of data
User data can be managed right inside their wallets and will be portable across apps
- ZK will come out of its shell.
In 2022, ZK-proofs will find utility beyond blockchain consensus which is a big win for privacy all over.
- Private smart contracts
While public ones give you transparency, 2022 could be the year private smart contracts gain wider adoption. IDO platforms are a prime candidate for adoption.
- More wallet sign-ins with Ethereum
Sign in with ethereum adoption along with most wallets supporting child wallets and preventing the creation of user usage graph across apps
- For your 👀 only
We will see Gated/Private NFTs where content is only viewable by the owner of the NFT
- An OS/stack for DAOs will emerge
2021 was the year of DAOs, this year we will see privacy-preserving OS’s or stacks built exclusively for DAOs which will also help manage it.
- More NFT use-cases ft. privacy
2021 was all about PFPs — Cryptopunks, BAYC, Cool cats, CrypToadz, Doodles, and the likes of it. In 2022, NFTs will take on a more utilitarian use case from a privacy standpoint: NFTs as music, documents, vouchers/tickets to verify personal information.
Privacy has now gone from being in the silos to taking the center stage, with both consumers and privacy regulators demanding transparency. Arcana has always been a strong advocate for privacy, transparency, and security. Our decentralized storage platform with a Privacy Suite is going to empower the web3 community with top-tier privacy and user experience, while also being a viable alternative to traditional cloud storage options.
About Arcana Network
Arcana Network is a decentralized storage layer for Ethereum, offering storage for DApps built on EVM compatible chains, such as Ethereum, Binance chain, and Polygon (Matic). But Arcana doesn’t stop at storage. To fully realise the privacy and data ownership benefits of decentralized storage, you need a suite of services, which are currently not decentralised. Arcana fixes this with its Privacy Stack. Arcana’s Privacy stack offers Decentralized Storage that is end-to-end encrypted, along with Non-custodial Key Management Services (KMS) and Decentralized Identity and Access Management.