Recently, former Twitter CEO Jack Dorsey revealed his plans for Web 5.0, a new decentralised web platform that will restore people’s Ownership of Data and Identity. The Block Head, the former CEO of Twitter’s Bitcoin Business Unit, is creating it. The principal tool used by billions of people to connect with one another and read and write information has been the World Wide Web (WWW), which has developed from Web 1.0 to Web 5.0.
Timeline of Web:
We must first comprehend earlier iterations of the internet, such as Web 1.0, Web 2.0, and Web 3.0.
- The earliest iteration of the worldwide digital communication network is known as Web 1.0. This type of static web page-based internet, which only permits passive access, is frequently referred to as a “read-only” internet.
- The term “reading and writing” was first used to describe the Internet during Web 2.0, the next stage in the evolution of the Web. The social web’s foundational servers and other users are now accessible to users. The World Wide Web that we use today is this.
- An developing concept known as “Web 3.0” refers to a decentralised “read, write, execute web” that will run on blockchain technology. It describes a digital environment created by utilising blockchain technology, where individuals can communicate with one another directly. Artificial intelligence and machine learning, where machines can understand data like people, will power it.
Now, what is web 5.0?
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The Block Head, Jack Dorsey’s bitcoin business company, is creating Web 5.0. (TBH). “Build an additional decentralised web that can govern one’s data and identity,” is the stated goal of Web 5.0.
Web 5.0, combines Web 2.0 with Web 3.0, will enable users to “manage their data” and “retain their identity on the Internet.”
Why web 5.0?
- Web 3.0 and Web 5.0 both foresee an Internet free from the threat of censorship imposed by governments or cutting-edge technology, as well as from the worry of lengthy outages.
- The user has complete control over whether to encrypt their data anonymously on a decentralised blockchain or sell that data to vendors for monetization and advertising. It is important to note that the article talks about changing the “identity and control” of an individual.
Challanges ahead:
- Since this technology is still in its infancy and no one is certain where it may have come from, it may not make much of an impact in the near future.
- A disagreement between the government and the proponents of Web 5.0 may arise about how the sovereign government would permit this decentralised platform that is free from any government meddling.
- How the system will operate, who will be in charge of it, and how vulnerable groups like women, children, etc. Would be protected are all still unknown.