Jack Dorsey, the former CEO of Twitter, has unveiled his plans for Web 5.0, a new decentralised web platform that he says would "restore control of data and identity to users." How would Web 5.0 vary from Web 3.0 and Web 2.0? What is Web 5.0?
Here is a quick history of the Web to help you comprehend the changes:
Web 1.0 (1990 - 2000) - Read Only Web
The earliest iteration of the worldwide network for digital communications was known as Web 1.0. It is sometimes referred to as the "read-only" Internet since it consisted of static web pages and only permitted passive interaction.
Web 2.0 (2000 - 2010) - Read and Write Web
The "read and write" Internet represented the next phase in the development of the web. Because users could now connect with servers and other users, the social web was born. This is the internet as it exists now.
Web 3.0 (2010 - 2020) - The Semantic Web
The phrase "Web 3.0" is in use to describe the next iteration of the Internet, which is a "read-write-execute" web with decentralisation at its core.
It refers to a digital environment created using blockchain technology, where individuals may communicate with one another directly.
What is Web 5.0?
Web 5.0 was been unveiled by Jack Dorsey's cryptocurrency project, The Block Head (TBH). The objective, as stated on their official website, is to create a more decentralised online that gives you control over your data and identity. That is remarkably similar to what Web 3.0 was pushing and giving.
The objective of Web 5.0 is to develop a special collection of tools based on Bitcoin that would alter the current financial system. By doing this, investors and people would be able to own and secure their data as well as maintain control over all of their interactions.
Simply put, Web 5.0 is Web 2.0 plus Web 3.0 that will allow users to ‘own their identity’ on the Internet and ‘control their data’.
Why Web 5.0?
The TBH outlines two use scenarios for how Web 5.0 will alter society in the future on its website.
About changing the “control of identity”, it says:
"Alice is in possession of a digital wallet that securely controls her identity, data, and permissions for third-party connections and apps. A new decentralised social networking platform requires Alice to log in using her money. Alice does not need to establish a profile since she has already linked to the app using her decentralised identity, and all of the connections, relationships, and postings she makes using the app are saved on her decentralised web node. With the ability to swap applications anytime she wishes, Alice can now maintain her social character."
When discussing allowing consumers freedom over their own data, it uses the example of Bob, another user, who is described as a music enthusiast who despises having his personal information tied to a single vendor since it makes him constantly repeat his playlists and songs across many music applications.
It’s not here yet, but we can see it from here.
Top comments (0)