jack dorsey announces web3 web5

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What is Jack Dorsey's new web platform?

Bitcoin supporter Jack Dorsey announced a web platform called Web5, a combination of the centralized internet Web 2 and the decentralized internet dubbed Web3. The product is part of Square’s subsidiary TBD which attempts to create a suite of BTC-based tools to transform the financial system.

What does Dorsey's web5 actually do?

In terms of what Dorsey's Web5 will actually do, TBD’s website states that the current iteration of the internet is still missing an “identity” layer. “On the web today, identity and personal data have become the property of third parties. Web5 brings decentralized identity and data storage to your applications.

Who is Jack Dorsey?

Jack Dorsey announced a new crypto project—“Web5: The Decentralized Web Platform”—Friday on Twitter and in-person during a Web3 festival. Jack Dorsey wants two jobs. He was CEO of Twitter and Block (then Square) simultaneously for years.

Is 'web5' a decentralized internet layer?

Now, he’s out with an alternative. At CoinDesk’s Consensus Festival here in Austin, TBD – the bitcoin-focused subsidiary of Dorsey’s Block (SQ) – announced its new vision for a decentralized internet layer on Friday. Its name? Web5.