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Consent Management in Web 3.0

Consent management for Web 3.0 needs more control in the hands of users. What should a consent management system for Web 3.0 look like?
Nov 15, 2021

Today, we live in a world connected by technologies and devices, and this is called Web 2.0. It is a leap from Web 1.0, where businesses could only broadcast information to users.

Web 2.0 is also called a social web because social media platforms are one of the biggest drivers of the Internet today closely followed by e-commerce companies. If you look closer, at the heart of these companies’ operations is user data.

To elaborate, these Web 2.0 companies collect and analyze the data that belong to users, and use it effectively to market their products and services through targeted advertising!

On the face of it, all of these may seem fine because we are able to find the things we want easily, we get everything delivered at our doorstep, and life is convenient. But what about our most valuable asset — our data, and with it our identity?

Why is it that a company should store your personal information, analyze your browsing patterns, and make money out of something that defines you and makes you unique? Add to it, the possibility of hackers stealing your data and selling it on the dark web!

In all, your data is being used by everyone except you! And worse, they thrive off it!

If all this sounds unacceptable, you’re definitely a part of the revolution called Web 3.0 that is looking to fundamentally change the way your data is owned and used.

What is Web 3.0?

In simple words, Web 3.0 is the next revolution in the world of the Internet and one that can put you in control of your data. It is a world of open and permissionless networks that protect your privacy and empower you to determine how your data is stored and used.

It is built on three important pillars: decentralized networks, edge computing where data resides in the hands of users rather than in a centralized repository, and artificial intelligence.

Now that you have an idea of web 3.0, let’s delve a bit into consent management and its current implementation.

What is Consent Management?

Consent management is a platform or process by which a user determines what must be shared with a business.

The last few years have seen a greater focus on consent management, thanks to growing awareness about privacy and the emergence of legislation like the GDPR.

That said, the best way to enforce consent management in the current web 2.0 environment is through cookies. Unfortunately, it is a far cry from empowering users to control their data as it focuses more on implied consent buried in unwieldy terms and conditions.

Here’s a study that shows how cookies don’t offer any meaningful choices for users and never put them in control of their data.

When you put it all together, it’s clear that the existing consent management practices are not geared for Web 3.0. In fact, it requires a complete shift in mindset as the control has to move away from organizations and into the hands of users.

But is this even possible? What should a consent management system for Web 3.0 look like?

To get answers to these questions and more, download our whitepaper titled, “Building a Consent Management System for Web 3.0”

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