At last week's Benzinga Future of Digital Assets conference, a spotlight shone on the future of Web3 technologies and their potential to reshape data ownership and privacy. Markus Kuhnert, founder and CEO of 1iO, shared his vision for a decentralized internet that empowers users by eliminating intermediaries and granting individuals full control over their data.
Moving Beyond Centralized Systems
Kuhnert criticized the reliance on centralized systems by today's major tech companies, arguing that these systems exploit user data for profit and influence. "If you use a messenger like WhatsApp, all the data is sent to a central server, which a big tech company owns. They tell you they can't look into the data, but who believes that?" he said.
Instead, Kuhnert emphasized the potential of decentralized peer-to-peer systems, allowing users to communicate directly without involving centralized servers. "Imagine a messenger that strictly runs on your own devices and those of the people you interact with. There's no intermediary," he explained.
Empowering Users Through Data Sovereignty
The concept of data sovereignty is at the heart of 1iO's mission. Kuhnert believes a new value system can emerge by enabling individuals to own and control their data. "When people feel, ‘I actually own my information and data,' it creates value in the system," he said. This shift could allow users to decide how their data is shared and monetized, such as for artificial intelligence training or other purposes.
Kuhnert described this shift as "flipping the script" on data use. Rather than large corporations profiting from centralized data storage, individuals would have the power to decide how their information is utilized, creating a more equitable and transparent digital ecosystem.
Pioneering the Next Phase of Web3
Kuhnert distinguished true Web3 technology from what he called "Web 2.5"—systems that adopt blockchain without decentralizing organizational control.
"For it to work, you need to build technology that is not only technically decentralized but also organizationally decentralized," he said. He stressed that 1iO's approach represents a fundamental change in how data systems operate, eliminating middlemen and giving users control over their digital presence.
Conference Takeaways
During his panel on internet breakthroughs, Kuhnert discussed the topic with other industry leaders, including representatives from Google. "It's about breakthroughs and complexities," he noted. Comparing centralized systems that use artificial intelligence to attract more users with 1iO's decentralized approach, Kuhnert promised a thought-provoking conversation that challenges the status quo.
As Web3 continues to evolve, Kuhnert’s vision shared at the conference highlights the potential for a future where data ownership rests firmly in the hands of individuals rather than corporations.
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