Jack Dorsey, former co-founder and CEO of popular social media-giant Twitter has announced a new platform called Web5. The newly announced platform is said to be the combination of Web3 and Web2.0 and it’s based on Blockchain. According to the report, the platform makes sure that the safety of the individual data will be a high priority and that there won’t be any breach. Let’s have a look at the newly launched Web5 platform.
“We have hundreds of accounts and passwords that we can’t remember, which makes it very difficult for us to keep personal information protected. Third companies now own our personal information and our identities”, according to a business statement on its website.
Bitcoin business group The Block Head that comes under Dorsey is the one behind the development of Web5. Just to recall, Web5 is a platform that allows users to take control of their data and identity. “Web5 is a Decentralized Web Platform that enables developers to leverage Decentralized Identifiers, Verifiable Credentials, and Decentralized Web Nodes to write Decentralized Web Apps, returning ownership and control over identity and data to individuals,” reads the official website.
As per the reports, everyone will be able to manage their identity and data. The platform is meant for major causes like Wallets, decentralized web nodes (DWNS), and decentralized web applications.
“It serves as the foundation for systems with a single point of failure (eth, solano, and *), as well as the falsehoods that are made to individuals about who legally owns and administers it,” Dorsey Respond to a Twitter query.