As part of the PPI project that I’m currently working on with Ian and Naumi, I am quite intrigued with the emergence of a web in which users can find profound meaning and experience new levels of customization; better known as Web 3.0 or the “Semantic Web”.

Such a platform allows for marketers to engage in targeted advertising, government organizations to gain a better understanding of its citizens, and most importantly for people like you and me to surf seamlessly through the web for content that are relevant to our individual needs. It makes use of our digital footprints in the form of a combination of Facebook profiles, e-mails, online transactions, Flickr albums, APML (Attention Profiling Mark-up Language) and more. It essentially is an exchange of our personal data in reward for tailored web experiences. But is this a fair trade-off?

After all, disclosing more facets of our self identity may compromise our security (see article on how algorithms can now determine social security numbers solely from a birth date and place) and certainly relinquishes personal privacy. However if you live in the US, you may no longer need to fuss over the issue, with the potential introduction of a federal Online Privacy Bill.

If successful, websites will have to give surfers the option to “opt in” to give consensus to third party data collection, behaviour monitoring, and identity tracking with the default being not opting in. If the user accepts, cookies are installed. This is not applicable to first party cookies, those that enable Amazon to remember your favourite searches or YouTube to track your viewing preferences.

Apart from the average online user, the bill will also have a huge impact on corporate stakeholders such as advertising firms, search engines, and manufacturers. Some for the better and others for the worse. Here are a few reactions:

“You see countless targeted ads as you Web-surf each day. This kind of business would face significant challenges should such regulation be enacted, and effects would ripple throughout the Net. Most Web sites [use] a range of ad networks and offer additional behavioural targeting; an opt-in system could cripple the Web as users could be asked for opt-in for every [targeted] ad on a page.” -Fernando Ruarte, co-founder of ad network Glam Media

“If you have no cookies and no data, in many ways it will make search engines more valuable and, potentially, make Google (GOOG) even more valuable,” – Rishad Tobaccowala, CEO of the Chicago marketing consultancy Denuo.

“Advantages would accrue to companies that have already amassed much data on their customers and potential customers. This includes both major advertisers like Procter & Gamble (PG) and online giants along the lines of Yahoo! (YHOO) and Microsoft (MSFT). It would be harder for new market entrants to build, or buy, impressive databases in a cookie-restricted world.”

Do you think this attempt to put control back in the user’s hands is admirable? Or do you think that it’s not worth the hassle; privacy after all is a relative concept and if there’s a will, there must be a way…

Furthermore, is it worth it to stunt the progression of a new web extension that is the Semantic Web?