Decentralizing data on Web3 would reduce Uber's vulnerability to hackers. The company should take advantage of the possibility.
, have suffered breaches as well. The more Web2 apps proliferate across the consumer space and beyond, the more often we will get such incidents in the long run.The issue comes down to the very architecture of apps built on Web2. Through their centralized tech stacks, they naturally create honeypots containing users’ sensitive data from payment details to consumer behavior. As users funnel more and more data through various consumer apps, hackers have more and more honeypots to pursue.
Web3 is all about verifiable ownership. It is the first time that people can verifiably own assets, be it digital or physical, through the Web. This pertains to ownership of value in the form of cryptocurrencies, but in the case of Web3 ride-hailing, it also pertains to retaining ownership of your data and ownership of the apps, underlying networks and the vehicles themselves.
Drivers and passengers would be able to verify themselves on the Web3 ride-hailing app with their SSI in a fully peer-to-peer manner. They would also be able to choose what data they’d like to share or sell and to whom, exercising full ownership over their personal information and digital footprint. Imagine for a moment that the fees charged by Uber were voted on by drivers and passengers, not dictated by a boardroom in Silicon Valley. Ask the next Uber driver what they think of that. Users, for their part, will be able to vote things like disaster-time price surges into the bin. For drivers all over the world, Web3 ride-hailing will mean being paid fairly without a third-party corporate intermediary taking a cut.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The #Web3 Writing Contest | HackerNoonThe Octopus Network in collaboration with HackerNoon is excited to host a Web3 Writing Contest!
Read more »
Student Organizations Pull Their Weight in DeFi Protocol Governance“Student club governance only exists because a16z exists.' reports on how it's a win-win when student groups vote in on-chain DeFi elections – with a little help from companies like a16z.
Read more »
Spanish Soccer League Laliga Partners With Globant to Support New Web3 and Metaverse Initiatives – Metaverse Bitcoin NewsLaliga partnered with Globant, a Buenos Aires-based software giant, to produce metaverse and Web3 experiences for current fans and new users.
Read more »
NFT space bridges passions for tennis legend Maria SharapovaTennis legend Maria Sharapova sat down with Cointelegraph during Binance Blockchain Week Paris 2022 to elaborate on her interest for NFTs and ways to bring more women into Web3.
Read more »
It's Official: Pretty Much Nobody Is Buying NFTs AnymoreNFT trading volumes are down a catastrophic 97 percent from the record highs seen back in January — forget crypto winter, is this a full-blown web3 ice age?
Read more »
One Solution to the Food Waste Problem: Eat Your GarbageAt RE:WIRED Green, San Francisco restaurateur Kayla Abe explained how her kitchen makes enticing meals from ingredients that would otherwise get tossed.
Read more »