Web5 is developed by The Block Head (TBH), one of the Bitcoin business units at Dorsey’s Block (formerly Square). The platform brings decentralized identity and data storage to applications. “It lets developers focus on creating delightful user experiences while returning ownership of data and identity to individuals,” according to the company.
A Twitter user asked Dorsey: “what makes Web3, from your perspective, not decentralized enough that you believed there needed to be this next stage via what you’re calling Web5?”
Dorsey responded by stating: “it’s the basis on single point of failure systems (eth, solano, *) and lies being told to people about who owns and controls it.” To the Twitter co-founder, Web 3 isn’t truly “decentralized” or owned by its users, but instead by various venture capitalists and limited partners
As mentioned, this web platform is built to provide two core use cases: individuals will have the ability to “own their data”, and they will be able to “control...
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