The announcement of Jack Dorsey's groundbreaking Web5 platform, founded on Bitcoin blockchain technology, is making headlines.

Jack Dorsey Dorsey is ready to leave the Web3 phase and jump straight to Web5 without pausing for Web4. Web5 During Consensus 2022, Dorsey, who leads Block and the Bitcoin-focused venture called TBD, took the opportunity to highlight this project, showcasing it on Twitter with a confident flair. Austin, Texas Dorsey mentioned, 'This is likely going to be our most significant contribution to the internet, and I'm proud of what the team has accomplished.'

The web has revolutionized the sharing of information, but it still lacks an essential element: identity. We're constantly challenged to protect our personal data scattered across numerous accounts, many of which we can't even recall. In today's internet landscape, our identities and personal information have become the assets of third parties. TBD :

Web5 aims to bring decentralized identity and data management to applications. This allows developers to prioritize creating engaging user experiences while restoring control over data and identity back to the users. passwords To simplify things for users who may not have a technical background, the Web5 page illustrates a practical scenario involving identity management. Imagine a user with a digital wallet designed to securely manage 'identity, data, and permissions for external applications and connections.' By logging into what TBD calls a 'new decentralized social media application,' there's no requirement to set up a new profile due to their established decentralized identity. According to TBD, 'All connections, relationships, and posts' made through that application are stored effortlessly within the user's decentralized web node. This ideally makes it easy to transition between apps while carrying over your established online presence.

In essence, Web5 is about reclaiming ownership. It's fitting that Dorsey made this announcement during Consensus 2022, as throughout our time in Austin, conversations surrounding the future of the internet consistently emphasized the importance of data ownership.

In an interview at Consensus 2022, Mike Brock, who leads Block's TBD initiative, stated that Web5 is essentially a return to foundational principles. 'We already possess technologies that effectively enable decentralization, such as BitTorrent and Tor,' he pointed out.

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As Coindesk The managing editor at cryptocurrencylistings.com, previously a Deputy Digital Editor at Maxim magazine, with writings featured in Observer, Inside Hook, Android Police, and Motherboard. He also authored official tie-in books for 'Better Call Saul,' titled 'Don’t Go to Jail,' and 'Get off the Grid.'

RIP Web4. We hardly knew you.

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