Tim Berners-Lee is eying the next phase of the web as his company Inrupt launches a white-label "data wallet" that lets people store, manage and share their data.
Digital wallets have soared in popularity in recent years, with over 60% of the world's population expected to use them by 2026. While they are currently dominated by financial transactions and a handful of Big Tech players, over half of consumers report interest in using these wallets for a broader range of purposes.
Inrupt points to the EU's European digital identity wallet as a sign that digital wallets are moving beyond the siloed nature that currently requires different wallets for different purposes.
It says that its technology represents the next evolution of standard, interoperable digital wallets that can accept a wide variety of data.
With a multi-purpose data wallet, organisations can access and verify government-issued credentials like passports, educational certificates and entitlement benefits, even across state and national borders. The wallet could also be used to share demographic information, memberships, event tickets, professional credentials, purchase histories, buying preferences, and other personal data.
The wallet is built on Inrupt's Enterprise Solid Server (ESS), which the firm says makes it easy to reuse the personal data stored in other apps, services and AI systems. Consent for access is always coupled with each piece of data, so users can trust their data is used the way they want, and organisations can be confident they’re in compliance with regulations.
“Browsers shaped the Web 1.0 era, and Web 2.0 was all about apps. But Web 3.0 is all about empowered individuals and personal data. The Data Wallet becomes a fundamental tool for users,” says Berners-Lee, CTO, Inrupt. “By making this key piece of technology available, Inrupt is ensuring that the opportunities and benefits of secure personal Data Wallets are open for everyone.”