Former Twitter CEO Jack Dorsey recently announced his vision for a new decentralized web platform that is being called Web 5.0.
- The aim is to return “ownership of data and identity to individuals”.
- Web 1.0 is the “read-only Web,” Web 2.0 is the “participative social Web,” and Web 3.0 is the “read, write, execute Web.”
- Web 1.0. Web 1.0 was all about reading, and getting information.
- Web 2.0 was all about reading, writing, and creating. So, users joined social platforms, and these platforms got big because of this created content.
- Web 3.0 is all about reading, writing and owning. So, builders and creators can now own a piece of their own community, through NFTs, tokens etc.
- Web 5.0 Being developed by Dorsey’s Bitcoin business unit, The Block Head (TBH).
- 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’.
- Both Web 3.0 and Web 5.0 envision an Internet without threat of censorship – from governments or big tech, and without fear of significant outages.