Who owns web5?

According to the former Twitter CEO, Web3 is owned by venture capital firms. Dorsey has now turned his attention towards Web5. TBD, a subsidiary of Block, where Dorsey is currently CEO, has announced it will create Web5 on the Bitcoin network, which will be an “extra decentralized web platform.”

Is web5 better than Web 3?

Appearing at a Consensus panel clad in a black and bitcoin-yellow tracksuit emblazoned with the numeral 5, TBD lead Mike Brock explained that Web5 – in addition to being “two better than Web 3” – would beat out incumbent models by abandoning their blockchain-centric approaches to a censorship-free, identity-focused web experience.

Is 'web5' a decentralized internet layer?

Now, he’s out with an alternative. At CoinDesk’s Consensus Festival here in Austin, TBD – the bitcoin-focused subsidiary of Dorsey’s Block (SQ) – announced its new vision for a decentralized internet layer on Friday. Its name? Web5.

What is Jack Dorsey's new social media platform?

Former Twitter CEO and Block Head Jack Dorsey has announced a new platform on the social media platform -- Web 5. A combination of Web 3 and Web 2, Web 5 will be powered by Bitcoin. "This will likely be our most important contribution to the internet," Dorsey tweeted.