Jack Dorsey, former Twitter CEO, has declared the latest platform in a tweet, called ‘Web5’, a combination of Web 3 and Web 2.0, developed on the Bitcoin blockchain. The platform assures to fix the issue of securing personal data. The firm said on its website that users struggle to protect personal data with several accounts and passwords they can’t recollect. Personal data and identity have become the property of third parties on the web nowadays.
Web5 is created by one of the Bitcoin business units at Dorsey’s Block (formerly Square), The Block Head (TBH). The platform brings data storage and decentralized identity to applications. According to the firm, it enables developers to concentrate on developing delightful user experiences while returning ownership of identity and data to individuals.
As stated, this platform has been developed to offer two core use cases: users will be able to ‘own their data’ and they will be able to ‘control their identity’. These use cases will be fostered by decentralized web nodes (DWNS), wallets, and decentralized web apps (DWAS).