Arcana’s Privacy Predictions for 2022!

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The Web3 Rabbit hole

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May 30, 2023

Privacy has become a hot topic over the past few years. Although massive developments have been undertaken to help protect privacy and user data, unfortunate events such as security breaches and identity theft still continue. With blockchain entering the scene, it’s emboldened the community of developers with a renewed sense of hope that privacy will be given its due — it won’t be just a mere afterthought.

As we always like to say, privacy will be a first-class citizen on every app.

Here are some Arcana 2022 privacy predictions:

  • Privacy coins 🚀
    As regulations clamp down, privacy coins will take off. Institutions/KYCed platforms will deny liquidations/delist them. Subsequently, their volume on defi will surge and will drive adoption for different use cases.

  • Decentralized encryption providers 🔒
    With Governments and other organizations enforcing anti-end-to-end encryption policies around the world, users and platforms are bearing the brunt of this. This will see the use of more decentralized encryption providers.

  • A surge in creator-led, web3 platforms
    Web2.0 platforms have long harvested our data and leveraged it to become cash-rich. This changes in 2022. We’ll have more web3 based creator-led platforms with user-owned data — incentivizing the community.

  • Seamless yet secure interoperability of data
    User data can be managed right inside their wallets and will be portable across apps

  • ZK will come out of its shell.
    In 2022, ZK-proofs will find utility beyond blockchain consensus which is a big win for privacy all over.

  • Private smart contracts
    While public ones give you transparency, 2022 could be the year private smart contracts gain wider adoption. IDO platforms are a prime candidate for adoption.

  • More wallet sign-ins with Ethereum
    Sign in with Ethereum adoption along with most wallets supporting child wallets and preventing the creation of user usage graphs across apps

  • For your 👀 only
    We will see Gated/Private NFTs where content is only viewable by the owner of the NFT

  • An OS/stack for DAOs will emerge
    2021 was the year of DAOs, this year we will see privacy-preserving OS’s or stacks built exclusively for DAOs which will also help manage it.

  • More NFT use-cases ft. privacy
    2021 was all about PFPs — Cryptopunks, BAYC, Cool cats, CrypToadz, Doodles, and the likes of it. In 2022, NFTs will take on a more utilitarian use case from a privacy standpoint: NFTs as music, documents, vouchers/tickets to verify personal information.

Privacy has now gone from being in the silos to take the center stage, with consumers and privacy regulators demanding transparency. Arcana has always been a strong advocate for privacy, transparency, and security. Our decentralized storage platform with a Privacy Suite is going to empower the web3 community with top-tier privacy and user experience, while also being a viable alternative to traditional cloud storage options.

About Arcana Network

Built for Ethereum and EVM-based chains, Arcana is the web3 infrastructure to easily onboard dApp users and enable user data privacy and ownership. Web3 developers use Arcana’s SDKs for a seamless, familiar user onboarding experience via social authentication and passwordless login. All user data is encrypted, secured with data access fully controlled by the users, and powered by blockchain.

Arcana has raised 2.7Mn USD from some of the leading investors and founders in the ecosystem such as Balaji Srinivasan, Founders of Polygon, Woodstock, Republic Crypto, and Digital Currency Group.

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Copyright © Arcana Technologies Ltd. All rights reserved.

Schedule a Demo

The call is completely free and no commitment is required.

Copyright © Arcana Technologies Ltd. All rights reserved.

Schedule a Demo

The call is completely free and no commitment is required.

Schedule a Demo

The call is completely free and no commitment is required.

Schedule a Demo

The call is completely free and

no commitment is required.