Jack Dorsey is Building ‘Web5’ Powered by Bitcoin
📣 #JackDorsey is Building ‘Web5’ Powered by #Bitcoin
👉 Block Inc. is looking to bypass #Web3 entirely and focus on a new Bitcoin-centric model for identity management.
👉 Block subsidiary #TBD has announced plans to build a new decentralized web centered around Bitcoin (#BTC), underscoring founder Jack Dorsey’s belief that the largest blockchain network will play a major role in the internet’s evolution.
👉 Whereas Web3 incorporates #blockchaintechnology and tokenization to decentralize the internet, #Web5 is being envisioned as an identity-based system that only utilizes one blockchain: Bitcoin.
👉 According to Twitter user #Namcios, Web5 utilizes ION, which they describe as an “open, public and permissionless DID network that runs atop the #Bitcoinblockchain.”
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