Most Internet users already have a hard time understanding the principle of Web3, but Jack Dorsey is already thinking of Web5.
Web3 promised a few months ago to decentralize the global Internet by freeing itself from GAFAM and intermediaries. Force and to note that in addition to being still in its infancy, the concept is still struggling to impose itself on Internet users. Twitter co-founder Jack Dorsey has a head full of ideas to take it to the next level.
After leaving the blue bird to devote himself to blockchain, Jack Dorsey now has a new project: Web5. Announced on June 10, the project is even more ambitious than Web3 and for good reason, it intends to push decentralization even further.
For Jack Dorsey, the Web5 will rely solely on the Bitcoin blockchain. Despite the collapse of cryptocurrencies, the non-fiat currency remains the safest value, believes the businessman. It should thus offer developers the possibility of designing decentralized applications, while putting users at the heart of their operation.
Web2 + Web3 = Web5
Taking over the social functions of Web2 while decentralizing uses as advocated by Web3 is the ambition of Web5. For Mike Brock, head of TBD – a subsidiary of Block – this new version of the global Internet should thus guarantee total autonomy of exchangeswhile preventing venture capitalists from enriching themselves on the backs of future Internet users.
“The goal is to give individuals back ownership and control of their identity and data”
Web3 is already dead
For Jack Dorsey, Web3 is already history. The founder of Twitter has already criticized the protocol on several occasions, and already considered that the new version of the web was a failure: “Nobody owns the “Web3”. Venture capitalists and limited partnerships own it.”
In a few years, the Web5 “will bring decentralized identity and data storage to user applications. It allows developers to focus on creating enjoyable experiences while giving people back ownership of their data and identity”promises TBD to the site of Coindesk. No calendar is currently available, so we will have to be patient to find out what the future holds.