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Trustless Web 3.0 data technology a boost for the creative industries

BeInCrypto –

Web 3.0 represents a significant departure from data monopoly and autocracy. The movement is based on peer-to-peer transactions of data between users, rather than through a regulating and renting agent.

The ideology behind Web 3.0 is comparable to the popular rise of cryptocurrencies and blockchain technologies. Just like traditional currencies, monopolies own and manage data.

For example, Amazon collects customer data and stores it in order to use it for its own purposes. It owns this data and does not pass it on to third parties. Data transactions must be “trusted” and approved by intervening hosts who act as profitable middlemen.

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