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Online 5.0 is being developed by The Block Head, a division of former Twitter CEO Jack Dorsey’s Bitcoin company, with the goal of “creating an additional decentralised web that puts you in charge of your data and identity.”
Jack Dorsey, the former CEO of Twitter, has unveiled his plans for Web 5.0, a new decentralised web platform that he says will “restore control of data and identity to users.” How would Web 5.0 vary from Web 3.0 and Web 2.0? What is Web 5.0?
The earliest iteration of the global network for digital communications was known as Web 1.0. It is frequently referred to as the “read-only” Internet since it consisted of static web pages and only permitted passive interaction.
The “read and write” Internet represented the next phase in the development of the web. The social web was developed as a result of users’ newfound ability to communicate with servers and other users. This is the internet as it exists now.
The term “Web 3.0” is in use to describe the next iteration of the Internet, which is a “read-write-execute” web with decentralisation at its core.
It refers to a digital environment created using blockchain technology, where individuals can communicate with one another directly. Artificial intelligence (AI) and machine learning, where machines can understand data like humans, will power Web 3.0.
Web 5.0 is being created by The Block Head (TBH), a division of Dorsey’s Bitcoin company, with the goal of “creating an additional decentralised web that puts you in charge of your data and identity.”
The TBH describes the concept on its website and claims that while the web “democratised the sharing of knowledge,” it is still lacking a crucial layer: identity. With hundreds of accounts and passwords we can’t remember, we struggle to protect personal information. Identity and personal information are now third parties’ property on the internet.
Web 5.0, which would enable users to “own their identity” and “manage their data,” is essentially Web 2.0 plus Web 3.0.
Web 3.0 and Web 5.0 both foresee an Internet free from the threat of government or big tech censorship and without concern for lengthy disruptions.
In response to a question on Twitter about the differences between Web 5.0 and Web 3.0, Dorsey claimed that Web 3.0 isn’t really decentralised or owned by its users but rather is under the hands of various “venture capitalists and limited partners”.
The TBT outlines two use scenarios for how Web 5.0 will alter society in the future on its website.
The statement “Alice carries a digital wallet that securely controls her identity, data, and authorizations for external apps and connections” refers to changing the “control of identity”. A new decentralised social media platform requires Alice to log in using her wallet. Alice does not need to create a profile because she has already linked to the app using her decentralised identity, and all of the connections, relationships, and postings she makes using the app are saved on her decentralised web node. With her social persona with her, Alice may now switch apps whenever she wishes.
When discussing allowing consumers freedom over their own data, it uses the example of Bob, another user, who is described as a music enthusiast who despises having his personal information locked to a single vendor since it makes him constantly repeat his playlists and songs across many music apps.
“Bob can save this data in his decentralised web node, thankfully, so we can escape this maze of vendor-locked silos. By doing this, Bob can give any music app access to his settings and preferences, allowing him to take his customised music experience with him everywhere he goes,” it continues.