FreeCryptoCurrency.Me

Quick Take

• “Web 5”, a newly coined concept by Jack Dorsey’s TBD unit, was recently announced on Twitter
• Web 5 promises to return ownership of users’ personal data back to the users, which should allow them the choice of service providers
• The purpose of doing so is to build an Internet for trust minimized applications and to reduce the power that existing service providers have over users’ personal data today
• This is possible with the use of cryptography, decentralized identifiers, and verifiable credentials
• While TBD has proposed certain novel applications, such as tbDEX, there is still no evidence to suggest that such a concept will eventually acquire significant user adoption

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