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At the BITKRAFT Summit 2023 David Bennahum, Tomer Sharoni, Hilmar Veigar, and Evin McMullen dove into the significance of data ownership and the impact of Web3 identity. In today's digital landscape, our personal data is scattered across platforms and controlled by third parties. This limits user autonomy, fragments identity and frustrates UX with repetitive onboarding. Envision a future where users own their data and can carry a unified identity seamlessly across platforms, choosing which parts to make public, and selectively disclosing private information. This is the potential of Web3 identity. A shift towards data sovereignty could also empower creators through true ownership of their work. This could push platforms to implement more inclusive business models, as creators could switch platforms without losing their content and followers. Finally, whilst a user's identifying data can remain private, on a public blockchain all actions are visible. This presents a new frontier and a level playing field for advertising, where consumers can be targeted based on their onchain actions, without needing to identify individual users.