We believe everyone has a fundamental human right to own and control personal data. To have the freedom to control our identity and enjoy agency over how we choose to interact with the digital world.
We seek to create a new era of hyper-personalization, where user data belongs to individuals, is private, and consensually accessed to create new products and services. Similar to how the decentralized finance movement is transforming the traditional monetary system, we provide the technology and tools to revolutionize websites and applications used everyday by billions of people worldwide - decentralizing every single industry, one by one.
Web3 pledging to right what Web2 got wrong
The internet has matured to revolve around an ever-shrinking number of privately-owned and centrally-controlled platforms. This is in contrast to the liberal early stages of the internet, which were protocol-driven, with open, inclusive standards where anyone could build applications and services.
In the first phase, everyone installed software on their computer and saved their own data to their local disk drive. In the second iteration, a combination of the Internet, the “Cloud” and the Software as a Service (SaaS) business model became the leading model.
This led to the growth of large technology companies with proprietary platforms, which created “walled gardens”, locking in users and their data. It has prevented competition and choice for users, and created economic and security challenges.
The collective result is a lack of respect for our digital property rights. Data isn’t freely shared and it certainly doesn’t serve its owner.
Part of the emerging Web3 stack, X-Project empowers users to put a stake in the ground to own and control personal data and identity. We believe in a privacy-preserving internet for the people, governed by the people.
A world where data is self-sovereign
We foresee a future where users have a digital wallet on their phone, only accessible to them. This digital wallet holds and protects their private encrypted data. The user can grant outside access on an “as needs” basis, for trusted service providers to deliver hyper-personalized offerings. All personal data is portable.
Once given access, third parties can validate data, provide a digitally signed verification certificate, then delete it. This verification certificate can be shared with companies so a user no longer has to provide the actual data to any company to access the service.
Users choose what personal information they share with companies and revoke that access at any time, shifting the current power imbalance. This brings forward a future web where users can control personal data, and identity relies on the creation of decentralized networks and protocols that enable and incentivize application development. It’s a win-win.
Creating a shared, private and secure data layer can lower the barrier of entry for third parties and developers seeking to serve those users, creating a competitive and value-rich ecosystem.
End users need to be shown it’s possible to own and control their personal data in this new era of decentralization.
They need to realize their data has not just monetary value, but more importantly, can help improve their everyday lives when unified, remixed and analyzed by innovators - without sacrificing privacy and security.
Application developers must be supported to ensure “consumer privacy comes first”, ushering in this new era of self-sovereign web applications. This requires designing apps with a different, more user-centric architecture.