Following US penalties for coin mixer Tornado Cash, several web3 companies have formed a partnership to educate people about the need for data privacy. The Alliance has also established a Legal Defense Fund to further its objectives.
Partnerships include Web3 p0xeidon labs, Nym Technologies, SCRT Labs’ Secret Network, Orchid, Railgun, Status, and Oasis Network’s business from the Oasis Foundation.
The Universal Privacy Alliance (UPA) said in a statement that it “aims to protect privacy regardless of blockchain or technology stack.” Lay the foundation for native privacy and ensure the security and democracy essential to the success of new technologies.
In addition, the Alliance has introduced the UPA Legal Defense Fund. It claims it helps further its primary purpose of “defending the ability to experiment, develop, and utilize full-stack privacy solutions.”
The UPA said in a statement that the action “comes amid a growing wave of censorship, repression and even criminalization of privacy technology.”
The Universal Privacy Alliance was featured at a side event at the Ethereum Foundation’s Devcon conference in Bogota, Colombia on October 11th. Former intelligence contractor Edward Snowden spoke via videoconference at an event held at ZK House’s Hackerspace.
What exactly is Web 3.0?
Web 3.0 Third Generation Web Technologies (Web3). The World Wide Web, also known as the Web, provides website and application services and serves as the basic building block of the Internet.
fact Web 3.0 Constantly evolving and defined means there is no single agreed upon definition. Web 3.0 will undoubtedly make decentralized applications much more prominent and use blockchain-based technology.
Blockchain enables the creation of decentralized apps and services. Blockchain uses a decentralized approach to spread data and connections across services, as opposed to a centralized database architecture. Blockchain can also provide an immutable record of transactions and activities in a distributed environment, helping to verify authenticity.
A key element of Web 3.0 services is Cryptocurrencywhich essentially replaces the use of fiat currency.