Jack Dorsey defined the mechanism of Web5: Bitcoin- based decentralized Internet!
Jack Dorsey, the former CEO of Twitter, announced Bitcoin-based decentralized internet platform called Web5. As a big fan of Bitcoin, Jack Dorsey considers his new project as a new adventure that all Internet users can enjoy. According to him, the project will probably be the most important contribution of Block to Internet technology. Dorsey’s motivation to implement a new web model may stem from the belief that Web3 will never achieve real decentralization.
What is web5?
Web 5 is a combination of Web3 and Web 2.0, built on the Bitcoin blockchain. The platform guarantees that it solves the problem of personal data protection. Web5 is created by The Block Head (TBH), a Bitcoin trading units at Dorsey’s Block. The platform allows developers to focus on creating enjoyable experiences for user, while restoring ownership of data and identity to people. In fact, this platform has two main uses: People have the ability to own their data and can control their identity.
The Block Head website states:
“We struggle to secure personal data with hundreds of accounts and passwords we can’t remember. On the web today, identity and personal data have become the property of third parties,”
Source: The Pipsafe Team