There is much buzz around Jack Dorsey, the Twitter founder ‘WEB5’ concept.
Should we care about that? In my opinion ‘Yes’.
Let’s zoom in.
His significant arguments against current web3 solutions are:
(1) ‘Web3’ is not fully decentralized or owned by its users. VCs control it.
(2) We still need to use ‘web2’ platforms / ‘third-party’ that collect our data (OpenSea, Coinbase, etc.).
So, the question about who 'owns and controls' is still valid (!)
Jack is trying to fulfill one of the original promises of the Blockchain and truly decentralized space by using fully decentralized apps and protocols.
This model is based on BTC returning ‘true digital ownership’ and ‘control over identity and data’. These use cases will be supported by wallets, decentralized web nodes (DWNS), and decentralized web apps (DWAS).
He calls this ‘WEB5’.
I really appreciate his concept and solutions.
However, let’s zoom out.
Jack is trying to fulfill the gap’ and deliver solutions according to ‘Web3’ mission, vision & philosophy.
That’s why I don't really resonate with calling this ‘web5’.
In my opinion, this is more of a connection to marketing and positioning (in the minds) than real usability and a shift in consciousness that makes for a game change.
We all know who is first on the moon… and in this case in web5 :)
Under the link, you will find more about the idea.