Tim Berners-Lee is turning his attention to the next phase of the web with Inrupt’s launch of a white-label “data wallet” that allows individuals to store, manage, and share their data.
The popularity of digital wallets has surged in recent years, with projections indicating that over 60% of the global population will use them by 2026. While current usage primarily focuses on financial transactions and is heavily influenced by a few major tech companies, more than half of consumers express interest in employing these wallets for a wider array of applications.
Inrupt highlights the EU’s European digital identity wallet as evidence that the function of digital wallets is expanding beyond their current isolated roles, which require separate wallets for different purposes. The company believes its technology signifies an evolution toward standardized, interoperable digital wallets capable of handling a diverse range of data.
This multi-purpose data wallet enables organizations to verify government-issued credentials, such as passports and educational certificates, across various jurisdictions. It can also facilitate the sharing of demographic data, memberships, event tickets, professional qualifications, purchase histories, and personal preferences.
Built on Inrupt’s Enterprise Solid Server (ESS), the wallet simplifies the reuse of personal data across different applications and AI systems. Users maintain control over their data and provide consent for access, ensuring compliance with relevant 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 of Inrupt. “By making this key piece of technology available, Inrupt is ensuring that the opportunities and benefits of secure personal Data Wallets are accessible to everyone.”