My Holistic Data Share: A WEB3 Data Share Application: Extending Beyond Finance to Privacy-Protected Decentralized Share of Multi-Dimensional Data to Enhance Global Healthcare

Abstract

Abstract

WEB3.0 technologies on network architectures, distributed ledgers, and decentralized artificial intelligence represents a transformative shift in how data are handled, stored and shared. These innovations promise to significantly enhance consumer data privacy rights by addressing fundamental vulnerabilities associated with traditional centralized systems and self-custody wallets. Data breaches in traditional systems operated mainly by third parties are more common, resulting in significant data leaks because of centralized storage and excessive data movement, sometimes unnecessarily. Healthcare data breaches have been a growing concern globally. Several hospitals faced operational halts on account of the impact of ransomware on patient care and privacy. WEB3 Wallets are a vital component emerging as a significant force for global financial inclusion, especially in developing economies. They promote inclusion, reduce costs and empower individuals through self-custody. Though major improvements are needed in these wallets, their use is rising steadily. The global cryptocurrency user base is expected to reach over 500 million by 2025, with substantial growth in emerging markets, according to a report by Statista in 2023. This paper introduces a concept beyond cryptocurrencies and finance into everyday real-world use cases that need combinatorial access to a person’s holistic data, including financial and health records, genomic data, and advanced directives, among others, that need to be privacy protected and shared with specific actors identified for their roles in the WEB3 ecosystem through decentralized identifiers and non-fungible token badges identifying particular recipients. The author introduced the concept at ETHBoston in April 2024, won accolades for a primitive implementation using underlying threshold cryptography technologies, and enhanced it into a conceptual holistic data share application for global healthcare, as presented in this paper.