The internet has made great strides in how it’s used. What was developed by Tim Berners-Lee as an open protocol to share information from anywhere on earth has now transformed into the internet as we know it. The current iteration of the internet is known as Web2. The Web1 before let the user only read the available information. Web2, on the other hand, has shifted to a user-participation model; it allows users to interact with the platforms and websites to create their content.   

Social media companies led this content-generating development, and as more people have started using these services, data flow and value have been disproportionately monopolized by these few tech companies. Companies can monetize and profit from content that users create but have no control over. The data is ultimately centralized and in control of tech companies who decide the what and how of your digital life. This high degree of centralization is seen as a drawback of Web2 as it has profound privacy implications.  

Web3 is the future. A step away from the exploitation of end users for profit and the tendency of Web2 to censor and de-platform individuals. This internet iteration will run on the decentralised blockchain networks, replacing centralised servers with globally distributed nodes. This would allow the users to remain in charge of their data without trusting a single entity to handle it in their best interests. Users will be able to interact with the web through decentralised apps or Dapps, which would be community governed and non-custodial.   

By combining machine learning & artificial intelligence with the decentralised internet, computers could understand and process the information on a more human-like level and provide faster and more relevant results to their users. Further, implementing things like smart contracts that run web processes based on predetermined conditions would add a layer of protection against bias that a centralised network would suffer from. 

So, what does Web3 mean for privacy? 

Today, the internet or Web2 is filled with problems. Fake news, data breaches, and digital identity theft are all too familiar. As every company uses their servers, users must share their personal information whenever they want to use their services. This creates a wide surface area of potential data breaches and cyberattacks, leading to erosion of user privacy. This is where the next generation of the web seems to derive its selling point as it is 

1. More secure: Web3 is based on Blockchain, and Blockchain uses end-to-end encryption and makes third-party interference with users’ sensitive data a thing of the past. The information is sent through multiple nodes on the network, which change every time. So even if a malicious node were trying to collect data, it would only be able to do so for some fragments of information. Additionally, it would not be able to track where and to whom the information is being transferred as it would only be aware of the node before and after. 
2. Greater Privacy: Since the data is broken into encrypted fragments and passes through multiple nodes, it becomes challenging to access or manipulate data. Even if the network creators were compelled to share their user’s data, they would not be able to collect this sensitive data. 
3. User-friendly: On Web3, instead of providing your information, again and again, you can authorise the platform to use your information already available on the web (which can only be accessed by you). If you want to update any information, you must do it once, and it will be updated everywhere.

Jack Dorsey’s blockhead idea is a combination of Web2’s interactive capabilities and Web3’s decentralisation. Web5 aims to solve the issues faced by Web3, that it is still an inherently centralised Web as it is based on a single point of failure, like Ethereum or Solana. He wants to use Bitcoin’s decentralised nature as it fixes the single issue of failure problem.  

 
What does Web5 hold for the future? 

1. Decentralised Identities: Web5 would bring about decentralised identities. These decentralised Identities would allow users to store their identities in a secure wallet. This lets them use decentralised applications without setting up a profile, and users can start using them. Their decentralised identity moves with them as they move from app to app. This is just one-use case of Web5 that the blockhead has put out, and more are sure to come. 
2. Decentralised Data Storage: Just like your decentralised identity, you are stored in a wallet. You can store other data on a decentralised node and grant access to apps using your settings and preferences on how the data will be used—enabling a personalised experience no matter the application you choose.  

The idea of Web5 could prove revolutionary in terms of how personal user data is owned and used. But we are still far away from it becoming a reality as we still haven’t completely transitioned to Web3 due to its highly technical nature and know-how needed to operate it properly. Write back to us about what you think about Web3 and Web5.