The Data Revolution in the Web3 Era: Waev Creates a New Paradigm for Data Privacy

Introduction

Waev is a trustless data exchange protocol that records user data usage permissions on the blockchain, allowing enterprises to control data access through keys, thereby protecting user data privacy. This article will introduce the entrepreneurial journey of Waev's founder, Phil, and how Waev leverages blockchain technology to revolutionize data processing.

The Birth of Waev: The Fusion of Data and Web3

Phil, as a serial entrepreneur, has accumulated rich experience in data quality management at a big data company. He once founded Logo Mix, an online platform that provides branding services for small businesses. Later, Phil became an angel investor and participated in "The Investment Dao" investment institution.

Phil has been closely following the development of Web3 and decentralized technologies, believing that these technologies can provide better protection for data privacy. He contemplates how to leverage the transparency of public chains to enable businesses to better handle and share data, respect consumer privacy, and provide the best products and services to customers. These reflections ultimately led to the birth of Waev.

The Difference Between Data3 and Web2 Data: A Revolutionary Shift in Data Ownership

Waev's core product utilizes blockchain technology to record users' permissions for data usage in an immutable way on the blockchain, protecting users' data privacy. The "Data3" concept proposed by Phil emphasizes the combination of decentralized technology with data processing, creating a new paradigm for data ownership.

In the Web2 era, data ownership essentially meant entrusting copies of data to companies, which easily led to data abuse and loss of control. Waev enables companies to securely access and use consumer data through technological innovation by using keys. When data needs to be shared, companies can issue keys to gain access instead of copying the original data. This process is verified through smart contracts to ensure all consent permissions.

The Waev method implements encrypted control over data by recording consent information on the blockchain, using keys to manage data access, applying the fundamental principles of Web3 to the data domain, and achieving a fundamental shift in data ownership.

Data3 allows consumers to participate more.

In the Web2 era, data processing was often an opaque black box, lacking transparency. In the Web3 era, blockchain technology and smart contracts create a trustless environment for data exchange, allowing all parties involved to clearly understand the rules they must follow.

As data privacy laws increase globally, consumers' rights regarding data control are receiving more attention. Waev provides consumers with the ability to view the data that companies hold about them by issuing keys, offering a new solution for data transparency.

The Data Alliance Opens a New Era of Data

The Waev data alliance technology enables multiple parties to collaborate and jointly own data, achieving an automated economic model. This technology can not only be implemented among enterprises but also offers consumers the opportunity to participate.

Data alliance technology can quickly connect data while protecting privacy, enabling companies to better understand consumer preferences and provide more accurate product recommendations. In addition, blockchain technology makes data public and transparent, but consumer identities can still remain anonymous.

Waev is committed to simplifying the difficulty of technology use for enterprises, eliminating the need for smart contract development or Web3 engineering teams. The data alliance technology enables enterprises to combine on-chain data with existing data, thereby leveraging its advantages in marketing.

Competitive Advantages and Applications of Waev

Waev's main competitors are Web2 technologies, while leveraging Web3 and decentralized technologies has become Waev's competitive advantage. Waev achieves data connectivity through data alliances, eliminating the need to trust third-party administrators, thereby ensuring consumer data privacy.

Currently, Waev mainly supports EVM chains and is developing smart contract technology based on Rust. In order to make the technology more user-friendly, Waev offers a "Web2.5 middleware layer" solution. At the same time, Waev adopts a modular infrastructure model and collaborates with other companies to transition from a single chain to a modular infrastructure.

Under the framework of Decentralized Physical Infrastructure (DePIN), Data3 is able to easily solve the data integration challenges in traditional Web2 environments, providing users with more valuable information. For example, in retail media networks, Data3 can efficiently achieve precise advertising placement.

Conclusion

The upcoming data marketplace from Waev will provide a convenient data-sharing platform for businesses and consumers. In addition, Waev plans to continuously develop its zero-knowledge proof (ZKP) data alliance features to offer a faster and more scalable data computing environment.

Waev will launch a new feature that allows consumers to see how businesses use their data, providing greater transparency and trust in data sharing. In the future, Waev will also expand into more areas such as retail and healthcare, further supporting the development of decentralized physical infrastructure, and aiming to change the paradigm of data processing and sharing in a way that respects consumer consent.