Against the backdrop of rapid global digital economic development, Web3 technology is driving the return of data sovereignty to users and giving rise to new asset management models. Market research indicates that by 2030, the global blockchain market size is expected to surpass US$1.5 trillion, with Web3 identity authentication, asset tokenization, and other innovations becoming key trends.
Currently, the Web3 cultural entertainment sector is actively building decentralized identity systems to break the data monopolies of internet giants. Meanwhile, companies are introducing BSIM solutions that integrate crypto wallets with SIM cards to simplify user operations while enhancing security.
Additionally, blockchain networks' hybrid consensus mechanisms (PoW+PoS) address malicious node issues, further ensuring network security. Innovative models like property tokenization are creating new channels for stable returns for investors.
Amidst the ongoing rapid digital transformation, Web3 technology is bringing revolutionary breakthroughs to data sovereignty and privacy protection. Animoca Brands' Mocaverse project has pioneered a decentralized identity authentication system that uses blockchain technology to achieve user data autonomy, potentially reshaping the internet ecosystem.
Evan Auyang, Group President of Animoca Brands, noted that under the current Web2.0 model, tech giants like Google and Facebook essentially control user data assets, creating a monopolistic "data-advertising" business model.
"While users enjoy 'free' services, their behavioral data is systematically collected and commercialized. This not only violates privacy rights but also distorts normal market competition." Auyang emphasized that blockchain technology can precisely address these privacy pain points in the Web3 world.
ZKP authentication without disclosing privacy
What Mocaverse aims to do is change these business rules, giving every Web3 user complete control and ownership over their data assets - including digital IDs, personal information, addresses, etc. Other businesses can authenticate user identities using cutting-edge technologies like Zero-Knowledge Proof (ZKP), without Web3 users needing to disclose any personal data to them.
Kenneth Shek, a project lead of Mocaverse, told Wen Wei Po that after investing in hundreds of Web3 projects over the past 7-8 years, the company reflected on what could connect all these companies. Their answer was creating a universal wallet, ID, and ID data system - now Mocaverse - where users don't need to provide personal data to platforms to access services. This decentralized ID system has successfully solved Web 2.0's cross-platform identity recognition challenges. While it's a long-term battle, the trend of returning data sovereignty is irreversible.
No need to provide personal data
Shek gave examples illustrating how, currently, whether logging into Facebook or YouTube, users essentially use the same email. Yet different systems treat them as completely new individuals - an unsolvable problem in Web 2.0. With Mocaverse's Web3 ID, holders don't need to share all private or raw data with companies. Using ZKP technology, users only need to provide "yes" or "no" information, like whether they're adults or meet certain criteria, to complete authentication.
Auyang believes this ecosystem and vision won't materialize overnight but requires time. It's hard to predict when society will fully adopt these technologies, so such investments are long-term. Animoca maintains other revenue streams like token economics and consulting services.
Advertising ecosystem to undergo fundamental changes
Reportedly, Mocaverse's technical architecture has three key innovations: using distributed ledger technology to ensure data immutability; implementing granular authorization management through smart contracts; and establishing cross-chain interoperability protocols.
"This isn't just technological innovation but business model reconstruction," said Shek. When users truly control data sovereignty, the current digital advertising ecosystem will undergo a fundamental transformation.
(Source: Wen Wei Po; Journalist: Nicolas Lai; English Editor: Darius)
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