Privacy and Security Problems in Web 3.0

One of the best inventions of the last century is the advent of the Internet in 1969. It is a period of boundaries elimination between digital and physical objects. Since then, it has gone through several stages of development:

  • World Wide Web (WWW), also called Web 1.0, in 1989. It was an open resource serving static content rather than dynamic HTML.
  • Web 2.0 infrastructure in 2005. Everyone could create their content on the Internet. It can also be called the period of exploitation or monetization of user data.
  • Web 3.0 transformation in 2018.

We want to discuss the last period of re-decentralization. However, before describing and preventing the possible risks to its security, we need to understand its impact on the modern world of business and its relationship with blockchain technologies.

Commercial Relationships between Web 3.0 and Business

The benefits of Web 3.0 have helped businesses become more transparent and user-centric. Entrepreneurs have the opportunity to provide insurance and financial services to big companies. Artificial intelligence assistant improves decision-making processes and increases investment commitment for enterprises focused on leadership in the Semantic Web 3.0.

It will also allow companies to develop decentralized applications running on any operating system. If criminal hackers break into the decentralized network, they will need to access all computers. New technologies can remove restrictions on cross-border commercial activities and data with the help of token payment systems.

One of the added benefits of Web 3.0 as mass adoption is limited government intervention in business. As a result, users get the additional motivation to invest their money in technology startups.

Web 3.0 in Blockchain Technology

Web 3.0 is the environment for blockchain. It is a distributed database where transactions are recorded and cannot be deleted or changed. It allows data to be distributed across multiple geographically distributed nodes. Blockchain technology is widely used in banking (bank account numbers), healthcare, and supply chain and can be used in voting processes to ensure fairness and transparency and prevent cybersecurity risks (this is what the best crypto auditors do).

Broadening Web 3.0 in Decentralized Networks

Today, the Internet is an intrinsically meaningful web that focuses on how data are consumed. This new meaning focuses on how data are added. There is no conceptual reason why both cannot be true simultaneously. If Web 2.0 had limited opportunities, in the new version each user can add content without the control of centralized gatekeepers. And it can be interpreted by humans and machines by analytics providers.

Cybersecurity Implications for Web 3.0 Policy

Cryptographically secure capturing data currently requires everyone to relinquish highly sensitive and valuable personal data. When Web 2.0 was replaced by a new platform, Google would no longer control all data worldwide. And software agents can provide more protection against hackers. The “intermediary” of centralized authentication management on the Internet will be obsolete, and instead, users will interact directly using stand-alone identifiers.

It sounds like data privacy nirvana in Web 3.0, and all confidential information is kept in a highly secure vault. But it also has two caveats:

  • Confidentiality rules can be a stumbling block, and regulators must address issues.
  • Easy-to-use and convenient decentralized programs will be paramount for an average user.

Web 3.0 Security: Common Risks

While the Web 3.0 can maintain trust and offer many opportunities for growth and development, it also raises some security concerns as to its predecessor, Web 2.0. It can pose cybersecurity risks for several reasons.

Information Quality

Web 1.0 relied on the publisher’s reputation for accuracy. Web 2.0 has degraded data quality, exposing errors and misinformation. Does the consensus for adopting machine-driven data in Web 3.0 include accuracy checks? Who decides their qualifications, and what motivates them to base them on facts rather than put forward an agenda? Lack of answers can eventually lead to increased robustness.

Data Manipulation

The intentional manipulation of data and static pages is a huge cybersecurity issue. Humans can create not secure data to achieve desired results. It is how the disinformation system work. For example, when Microsoft decided to teach its “Tay” chatbot to learn from Twitter, people deliberately tweeted maliciously, training the machine to be racist. Imagine a nation-state that can disrupt the situation by passing misinformation on different websites or changing the meaning of words.

How will we find, block, and delete fraudulent data in the future? Solutions should be found immediately because many DeFi sites have too many security issues.

Web 3.0 Availability

If our system depends on data security, what happens when it is unavailable? Unfortunately, the modern web is full of broken links, and hackers can access your private information. So how to increase reliance on system availability beyond the control of the IT team? Using machine learning techniques means making copies of everything finding on the Internet or getting information on demand from websites.

Data Confidentiality

Data breaches constantly compromise confidential information. In addition to this threat, content may be accidentally published or placed on dangerous sites. When machines scan data and include it in their bases, they might increase the likelihood that private data will be discovered and exploited. Leaders in the deployment of the cybersecurity of zero trust need to beef up their defenses to provide for a system that will spread classified information faster than ever in the future.

Final Thoughts

The new stage in the semantic web has positive references in theory and even successes in practice. However, cryptographically secured digital identities still have several risks without practical steps toward their solution. Search engines should put more effort into correctly and safely interpreting company content.

However, it is impossible not to consider the decentralized work of algorithms and smart contracts, which can provide cyber security for companies and ordinary users from hacker attacks.

FAQ

Here is what users are most often interested in Google:

What is Web 3.0 used for?

This web helps to create more open, connected, and intelligent websites.

What are the differences between Web 2.0 and Web 3.0?

Web 3.0 is a new version that is more decentralized, open, and has greater utility. It is the next phase of web progress.

Is Web 3.0 secure for users?

Indeed, it enchases privacy and security because machines together with people can find, distribute, and analyze data. But it has some risks – information quality, manipulation, etc.

What are the changes in Internet privacy due to Web 3.0?

It was upgraded and now helps to remove centralized third parties from the equation. So, users can interact directly without risks.