Former Twitter CEO Jack Dorsey recently outlined his plans for a new decentralised web platform dubbed Web 5.0, which aims to give people back “control of their data and identities.”
The initial iteration of the worldwide digital communications network was known as Web 1.0. It’s known as the “read-only” Internet since it’s made up of static web pages that only allow passive interaction.
The “read and write” Internet was the next step in the web’s growth. Users may now connect with servers as well as other users, resulting in the birth of the social web. This is the internet as we know it today.
Web 3.0 is a developing concept that refers to the future generation of the Internet, which is a “read-write-execute” web built on decentralisation.
It refers to a digital world created on the blockchain technology, in which individuals may connect with one another without the necessity for a middleman. Artificial Intelligence and machine learning will power Web 3.0, allowing robots to analyse data in the same way that people do.
The Block Head (TBH), Dorsey’s Bitcoin business company, is working on Web 5.0, which aims to “create an additional decentralised web that puts you in charge of your data and identity.”
“The web democratised the sharing of information, but it’s lacking a vital layer: identification,” the TBH writes on its website. With hundreds of accounts and passwords we can’t remember, it’s difficult to keep personal information private. Identity and personal data have become the property of other parties on the internet nowadays.”
Simply described, Web 5.0 is a combination of Web 2.0 and Web 3.0 that allows users to “own their identity” and “manage their data” on the Internet.
Both Web 3.0 and Web 5.0 envision an Internet free of government or corporate restrictions, as well as the prospect of catastrophic disruptions.
In response to a Twitter inquiry on the differences between Web 5.0 and Web 3.0, Dorsey said that Web 3.0 is controlled by multiple “venture capitalists and restricted partners,” rather than being fully decentralised or owned by its users.
“Alice possesses a digital wallet that securely controls her identity, data, and authorizations for external apps and connections,” it adds of shifting “control of identity.” Alice logs onto a new decentralised social networking platform using her wallet. Alice does not need to establish a profile since she has linked to the app with her decentralised identity, and all of the connections, relationships, and postings she makes through the app are saved in her decentralised web node. Alice may now swap applications whenever she wishes and keep her social profile.”
When it comes to offering consumers freedom over their data, it uses the example of another customer, Bob, who is a music fan who dislikes having his personal data tied to a single vendor since it requires him to repeat his playlists and songs across many music applications.
“Thankfully, there is a way out of this maze of vendor-locked silos: Bob may store this information on his decentralised web node. As a result, Bob may give any music app access to his settings and preferences, allowing him to carry his personalised music experience with him everywhere he goes,” it continues.
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