Twitter's ex- CEO wants to build A blockchain-powered digital network in Web 5.0.
Web 1.0 was the first generation of the internet, made of static web pages that only allowed for passive engagement.
Web 2.0 the Internet of today, has created a social web, allowing users to communicate with servers and other users.
Web 3.0 the next generation, envisages a digital world built on blockchain technology and driven by artificial intelligence, where people will interact without needing an intermediary.
Web 5.0 developed by Dorsey's Bitcoin business unit, The Block Head (TBH), Web 5.0 is aimed at building an extra decentralised web that puts you in control of your data and identity.
On its website, TBH notes; "Both Web 3.0 and Web 5.0 envision an internet without threat of censorship from governments or big tech.
Web 3.0 is not genuinely decentralised or owned by its users, but is instead controlled by various "venture capitalists and limited partners".
Web 5.0 Changes:
The TBH website presents two use cases for web 5.0.
About "Control of Identity", It says: "Alice holds a digital wallet that securely manages her identity, data and authorizations for external apps and connections.
Alice uses her wallet to sign into a new decentralized social media app.
Because Alice has connected to the app with her decentralized identity, she does not need to create a profile and all the connections, relationships and posts she creates through the app are stored with her, in her decentralized web node.
Now Alice can switch apps whenever she wants, taking her social persona with her".
About the control of data
It cites the example of user Bob, a music lover who dislikes having his personal data locked to a single vendor as it forces him to repeatedly create his playlists across different music apps.
Thankfully there's a way out of this maze of vendor-locked silos:
Bob can keep this data in his decentralized web node.
This way Bob can grant any music app access to his settings and preferences, enabling him to take his personalized music experience wherever he chooses.