Zero Knowledge

Despite being a relatively recent innovation in the history of mankind, the internet has quickly become a central part of human activity. Not only has the internet shaped the lives of billions all around the world but it has also become the single place where the majority of economic and social activities occur.

A direct result of the internet’s fast paced integration into human life is that the amount of data being produced is growing exponentially. The resulting data can be used for a variety of purposes, such as utilizing big data analytics to gain insights on creating better user experiences, products, and services.

At the same time, those in control of the resulting data – who have the means of analyzing it – wield a new level of power never seen before in history. Not only can the data be used to learn intimate details about the life, personality, and social interactions of a given user but it can also function as basis for algorithms creating predictions for specific purposes, such credit scores and risk assessments for insurances. The combined data of online interactions of billions of humans has created numerous troves of data, leading to the creation of entirely new economies defined by who owns this data, and who does not have access to it.

Just like the rise of oil during the early 20th century, big data is entering the field at a rapid pace, leaving many of the old players (and the population at large) wondering how quickly it starts shaping the entire world around them.

This newly emerging data economy is colossal, dwarfing any other commodity – including oil – in comparison. But just as oil, it has quickly grown centralized in the hands of a few global corporations limiting access to it for everyone else. The economic consequences of monopolies and oligarchies are usually not positive. These data monopolies encourage not only rent seeking but also invade consumer privacy, depress innovation, and stifle growth as well as innovation.

One of the first signs of stifling growth within the data economy – a direct consequence of its monopolistic structures – is the lack of truly personalized, individual web experiences. Despite having access to vast amounts of data and powerful algorithms, Web 2.0 companies are unable to deliver truly personal experiences on their services.

Today’s web applications are personalized for superficially versions of us, built to maximize profits. As such, the personalized web experiences we know from Web 2.0 companies are built for consumers and treat us as such. The focus lies on generating the maximum profit from a interchangeable customer, instead of seeking to add value to the life of a unique individual.

Zero knowledge proofs allow users to stay truly private on the web while enabling developers to create rich, fulfilling, and hyper-personalized web experiences without the need to manage user data.