Democracy is under siege as our personal data is being sold and digital ownership is threatened by the dominance of tech giants. The internet, once a powerful tool for connecting the world and democratizing information, has become a platform where users trade personal data for access to content. The rise of Web 2.0 and social media further entrenched the control of centralized platforms over our online experiences.
The existing structure of the internet has allowed for the growth of a data broker industry controlled by big tech companies. This threatens privacy, user control, and developer creativity. It is time for a new web protocol that is user-focused, open-source, and decentralized.
Today, a handful of billion-dollar tech companies have built a data broker industry, driven by the relentless pursuit of advertising revenue. They relentlessly collect and trade our data without much concern for privacy or individual well-being. Social media platforms, in particular, have become centralized services where content, personal data, and online connections are all dictated by these tech corporations.
Not only does this erode privacy and control for users, but it also limits the creative freedom of developers. The current state of the internet forces developers to compromise their values in exchange for access. They must seek permission and approval from Big Tech entities to access APIs, effectively putting these centralized entities in control of the success or failure of developers’ applications.
Increasingly, consumer protection agencies, the intelligence community, and U.S. federal agencies are expressing concerns about this centralized control. It is clear that a new approach is needed, one that empowers users, developers, and fosters innovation. This new approach is known as web3.
Web3 is a decentralized, user-driven, open network where information can be exchanged and networks are interoperable. Crucially, it places ownership and control of personal data back into the hands of the users. The global web3 blockchain market is projected to reach $2.25 billion by 2023 and is estimated to be worth over $30 billion by 2030, demonstrating the potential impact of this paradigm shift.
One crucial solution is the Decentralized Social Networking Protocol (DSNP). DSNP is an open, free protocol that enables users to take ownership of their data and interactions. By doing so, personal data ceases to be a corporate asset and becomes a part of a community-led public infrastructure. DSNP also gives developers the freedom to create impactful technology that benefits users without being captive to the interests of Big Tech behemoths.
DSNP allows us to return to the internet as it was originally envisioned, focused on the common good. It eliminates the control of access, pricing, and permission revocation by any single entity. Leveraging the strengths of blockchain technology, DSNP enables developers to regain control over their applications and foster collaborative development.
Now is the time for developers to play a critical role in building a foundation for a safer and healthier internet, where individuals are empowered over platforms. An open and free protocol allows developers to break free from the existing rules set by Big Tech and envision a future internet driven by creativity, problem-solving, and user experience. The possibilities are limitless, and the time for action is now.