A report by the Web3 Foundation reveals that Big Tech companies extract nearly £200,000 in commercial value from each UK internet user over their digital lifetime. This data collection, often lacking transparency, raises concerns about user control and the fairness of the digital economy.

• 01The total estimated value extracted from internet users globally is around £94 trillion over six decades.
• 02This amount equates to nearly five years of full-time pay in the UK, based on an annual earnings benchmark of £39,039.
• 03Users unknowingly trade their personal data, including searches and purchases, for access to digital services.
• 04The report advocates for Web3, a decentralized internet model that aims to give users more control over their data and digital identity.
• 05Gavin Wood, founder of the Web3 Foundation, emphasizes the need for a more transparent and user-led online economy.

The findings highlight the economic implications of data privacy and user control in the UK digital economy.