Web3 is Crucial for Data Sovereignty in the Metaverse

Virtual Reality

Last year, Meta CEO Mark Zuckerberg spoke about his vision for The Metaverse; an interconnected virtual world where people and businesses can seamlessly coexist. Ever since then, cryptocurrency enthusiasts have wondered about the role of blockchain technology in The Metaverse.

The Role of Corporations in The Metaverse

One of the most pressing concerns about the future of Web 3, is the ownership of private data. Already, businesses leverage consumer data, taken from various social media platforms, to broadcast targeted ads out to millions of people. The future of Web 3 will take data collection to the next level; using our private data to shape the virtual world around us. The question is, will we let them?

Who Will We Trust in The Metaverse?

Data taken from the 2022 Edelman Trust Barometer points out that today, individuals are more likely to trust major corporations than the media and the government. This trust between corporations and individuals is certainly a good thing for the Metaverse, as it will allow Meta and other major players to use our data to help shape our virtual realities. More importantly, it’ll allow us to exist in the Metaverse with the assurance that our data and privacy are protected.

The Current Status of The Metaverse

Although the Metaverse isn’t quite here yet, it’s only a matter of time. Recently, Meta had this to say; “We want people to envision that, in addition to areas like gaming and entertainment, the metaverse has tangible potential on healthcare, education and skills training.” Sooner rather than later, we will start to see Meta’s vision for an interconnected virtual landscape come to fruition.

At the end of the day, how secure our data is on the metaverse depends entirely on us. The number one cause of data breaches is still human error. Will we as a people learn to be more responsible with our data on the Metaverse? Perhaps, but we’ll just have to wait and see.

Sources

https://www.forbes.com/sites/bernardmarr/2022/02/22/the-important-difference-between-web3-and-the-metaverse/?sh=3e579fa35af3

https://decrypt.co/100781/were-ready-for-the-metaverse-but-the-technology-is-not-heres-why

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