On May 15, 2024 in Washington DC, Blockchains attended the DC Blockchain Summit hosted by The Digital Chamber where we heard resounding support for U.S. leadership in regulating and developing emerging technologies. We also participated in Blockchain Education Day, where we engaged with policymakers to promote responsible regulation while advocating for legislation recognizing privacy as a fundamental consumer right.
Each of us is a walking, talking identifier linked to a mass of data that others own. Our identities are commodified, traded and exploited. Everything we create and consume online is fodder for data-hungry corporations’ profit-seeking business plans and algorithms. All this data about us: it’s not ours. We never see it. And it is a real asset that companies further monetize by buying, selling, and trading with other businesses. It’s time we take this data back.
Web3 technology promises a shift towards digital sovereignty, where blockchain enables individuals to control their data and experiences online. This revolution offers a digital identity that promotes personal empowerment, where the internet is custom-built for each user's actions and responses.
Web3 ID seeks to bridge the gap between the physical world and the digital world, allowing users to reclaim control over their identities, data, and assets. It allows users to have greater consent over when they share information, where it is stored, who it is shared with, and how it is used. By restoring personal control and ownership in the digital space, Web3 ID will enable users to create new social contracts for handling sensitive data.
For the first time in the internet’s history, trust can be a public good shared by everyone and owned by no one. Control of your digital data. Security. Transparency. Convenience. And most importantly, trust. These are just some of the ways blockchain technology will change the world – and your everyday life – for the better.
On October 8, 2020, the United States Attorney General’s Cyber-Digital Task Force published a paper that provides the DOJ’s most comprehensive view to date of both legitimate and illicit cryptocurrency activities. It focuses largely on virtual assets, enforcement milestones, and a road map for increased scrutiny of cryptocurrencies.
Web3 revolutionizes business and consumer interactions by decentralizing content storage and services, empowering individuals with control over their digital identities. This new internet presents opportunities for businesses to increase revenue, streamline operations, and save costs, while offering users the chance to own, control, and monetize their data. Read Now
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