6th Annual Summer Kickoff Mixer July 14 at SPACES, Toronto

Jack Dorsey’s is Building an Extra Decentralized ‘Web5’ on Bitcoin with Digital Identity Layer

Decrypt | Kate Irwin | June 10, 2022

Jack Dorsey web5 - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity LayerBut Jack, what happened to Web4?

Jack Dorsey thinks Web3 is a joke, so he’s making Web5 instead.  Dorsey’s TBD, a subsidiary company within Block (previously known as Square), announced today that it is building “Web5: An extra decentralized web platform.”

TBD launched in July 2021 with the aim of creating “an open developer platform” focused on decentralized finance and Bitcoin. Now TBD has its first offering: a platform that promises a new version of the internet in which users will have full control over their own data.

Dorsey has in the past been critical of current Web3 models that rely on venture capital funding, singling out Andreessen Horowitz in particular. His use of "Web5" appears to be another deliberate, and cheeky, way to publicly address those concerns.

See:  Jack Dorsey resigns as CEO of Twitter

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. It lets devs focus on creating delightful user experiences, while returning ownership of data and identity to individuals,” TBD’s website reads.

TBD says it wants to create a decentralized web platform to solve this problem. It will be made up of “a new class of decentralized apps and protocols,” according to its website.

Continue to the full article --> here

 


NCFA Jan 2018 resize - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity LayerThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity LayerFF Logo 400 v3 - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity Layercommunity social impact - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity Layer

Support NCFA by Following us on Twitter!






NCFA Sign up for our newsletter - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity Layer



Not to be missed! Registration NOW OPEN!

Help us kickoff the Summer in style


NCFA Summer Kickoff Jul 14 2022 800 - Jack Dorsey’s is Building an Extra Decentralized 'Web5' on Bitcoin with Digital Identity Layer




 

Leave a Reply

Your email address will not be published. Required fields are marked *