Why Web3 Privacy Matters

“Information doesn’t want to be free — people do.” — Cory Dictorow

A better, more empowering web for all. That’s the promise of decentralization and blockchain technologies.

But while we’re all busy building new protocols, apps, and blockchains, there’s one thing we seem to forget: privacy. And in the process, we might be building something even worse than what was before.

Here, we’ll explain why privacy — being able to decide what you share — is crucial for the web3 vision, why it’s at stake, and why now is the time to intervene and course-correct.

Privacy

Someone’s right to keep their personal matters and relationships secret.(Cambridge Dictionary)

Why is privacy important?

We can best answer this question by illustrating what happens if you don’t have privacy.

Imagine what would happen if you walked into a bar, and everyone would automatically know everything about you. Including your name, where you grew up, how much you earn, what’s in your bank account, and all your Google searches.

Without the option to keep secrets, you’d have no way to control what others know about you and how they use that information.

Banks could withhold you a mortgage because you’re having trouble at work. A health insurer could charge you more based on your Google searches. Criminals would know what you have, where it’s stored, and when you’re out.

Being able to choose what we share gives us the freedom to act and express ourselves without needing to fear repercussions. It allows us to experiment and reinvent ourselves. And to be open and genuinely connect with each other.

Privacy is essential if we want to keep growing and innovating — both as individuals and as a society.

Privacy, the promise of the decentralized web, and the mistake we’re making

Blockchain can empower online users again. By dismantling online monopolies and turning users and creators into co-owners of their platforms, it can make the web more community-governed and user-centric.

But right now, almost all blockchains are public by default. Every transaction you make can be viewed on a public ledger.

And with the rise of blockchain data analysis companies, the need to KYC, and the increasing use of centralized exchanges, every day it’s becoming easier to link one’s identity to one’s wallet address.

For smart contract platforms, the loss of privacy is an even bigger problem than for purely transactional blockchains. You’re not just revealing your balance and transactions — you’re revealing every interaction on every platform. It’s like having all your Facebook data, Uber rides, Google searches, and emails public — all in one place.

Imagine living in a house with glass walls and no curtains. Everyone can see what you own and what you do. That’s what using a public blockchain is like.

And because the blockchain is immutable, what you do becomes a part of your history — forever.

Our mission

We have the opportunity to turn this around. To build a decentralized web that truly empowers everyone. To make privacy accessible to all — not just the ultra-rich who can afford it.

But we gotta be quick. Right now, we’re laying the foundations for Web3. And we can ensure we’re building it the right way.

Our goal at Secret Network is to give everyone the ability to choose what they share by building the web3 privacy hub. We do this with smart contracts that keep user data private by default, all on a permissionless blockchain that’s built for interoperability with the Cosmos ecosystem and many other blockchains.

We’ve been building on mainnet for two years and have seen a growing number of apps launch on our platform, 135M+ in total locked value, and over 200k unique addresses. And this is just the start.

Want to know more?

There’s a reason why we’re one of the few tackling web3 privacy, and that’s because it’s tough.

Want to know how we’re making it work? Check out our About Secret Network page to discover all of our secrets 🤫 Read about our tech stack, how Secret Contracts can be used in DeFi, gaming, and the arts, and standards we developed like Secret NFTs and Secret Tokens.

Or check out this interview with Tor Bair and Okcoin:

And Guy Zyskind with CoinGecko:

Get involved. Become a Secret Agent 🕵️

We can’t do this on our own. That’s why we’re welcoming anyone to join our community of web3 privacy advocates and contribute with your skills. You’ll get to meet badass people, learn about crypto and privacy, and earn bounties + exclusive Agent swag in return for your hard work.

Let’s build a more privacy-preserving web NOW. Not when it’s too late.