BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home TECHNOLOGY

Jack Dorsey Announces Web5, an Improved Version of Web3

BlockNews.com Team by BlockNews.com Team
June 10, 2022
in TECHNOLOGY
Reading Time: 3 mins read
1
SHARES
22
VIEWS
Share on XShare in TelegramShare on Reddit

Jack Dorsey has never liked Web3 and he isn’t afraid to show it. Believing that Web3 is just as bad as Web3 but for different reasons, Dorsey has cooked up his own idea of an alternative– Web5. 

The news came on Friday when Dorsey announced that his company, Block, a digital payment company, would be working to develop a more improved version of a decentralized internet, coined Web5. 

The company shared its idea with CoinDesk, it read, “Identity and personal data have become the property of third parties. Web5 brings decentralized identity and date storage to individual applications. It lets devs focus on creating delightful user experiences while returning ownership of data and identity to individuals.” 

this will likely be our most important contribution to the internet. proud of the team. #web5

(RIP web3 VCs 🤫)https://t.co/vYlVqDyGE3 https://t.co/eP2cAoaRTH

— jack (@jack) June 10, 2022

The project was announced Friday, but its open-source development is very much still in the works, therefore not giving it an official release date. The name Web5 is a direct jab at the term Web3 and is founded on the belief that Web5 is the superior alternative to a decentralized internet. 

While attending CoinDesk’s Consensus Panel at one of their events, Mike Brock, who was wearing a black and yellow tracksuit with the number 5 ironed onto his shirt, explained why their version of the new form of the internet would be better. He said that in addition to being “two better than Web3” – would beat out incumbent models by abandoning their blockchain-centric approaches to a censorship-free, identity-focused web experience. 

“This is really a conversation about what technologies are built to purpose, and I don’t think that renting block space, in all cases, is a really good idea for decentralized applications,” Brock said.

He goes on to say, “I think what we’re pushing forward with Web 5 – and I admit it’s a provocative challenge to a lot of the assumptions about what it means to decentralize the internet – really actually is back to basics. We already have technologies that effectively decentralize. I mean, BitTorrent exists, Tor exists, [etc].”

Web 5’s monetary layer will be built on the foundation of Bitcoin. This was expected given Dorsey’s outspoken support for the blockchain. 

Web5 will allow the users to interact with each other without the need for intermediaries. This is supposed to mean that no external forces, such as government, third parties, or centralized internet outages, among other supposed improvements to Web2. Web5 is also meant to provide users with a “decentralized identity” that would let them use applications without ever having to log in. User data will also be protected, as opposed to the current conditions in Web2 that allow third parties and services to access user data. Users will now have the option to give their data with permission. 

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Web3Web5
TweetShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

What is Bittensor? Full TAO Project Review: The Open AI Network That Pays You Back
CRYPTO

What is Bittensor? Full TAO Project Review: The Open AI Network That Pays You Back

September 9, 2025
Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis
CRYPTO

Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis

September 3, 2025
Bitcoin vs Stocks: Why AI May Push BTC Ahead in the Next Decades
BITCOIN

Bitcoin vs Stocks: Why AI May Push BTC Ahead in the Next Decades

August 31, 2025
What is Kaspa and How Does it Work? Should You Buy KAS in 2025?
CRYPTO

What is Kaspa and How Does it Work? Should You Buy KAS in 2025?

August 20, 2025
What is Bittensor and How Does it Work? Is TAO the Biggest AI Crypto Buy of 2025?
CRYPTO

What is Bittensor and How Does it Work? Is TAO the Biggest AI Crypto Buy of 2025?

August 18, 2025
Beijing Turns Up the Heat: China Pressures Tech Giants to Abandon Nvidia H20 Chips in High-Stakes Tech Power Play
BUSINESS

Beijing Turns Up the Heat: China Pressures Tech Giants to Abandon Nvidia H20 Chips in High-Stakes Tech Power Play

August 13, 2025
Load More

Related News

Top 3 Scenarios You Need to Expect From Jerome Powell’s Interest Rate Decision Tomorrow

Top 3 Scenarios You Need to Expect From Jerome Powell’s Interest Rate Decision Tomorrow

September 16, 2025
Here is the Big XRP ETF Breakthrough – Bloomberg Analysts Expect Trading to Begin This Week

Here is the Big XRP ETF Breakthrough – Bloomberg Analysts Expect Trading to Begin This Week

September 16, 2025
What Happened in Crypto Today? – September 16: Bullish Avalanche and Memecoin News

What Happened in Crypto Today? – September 16: Bullish Avalanche and Memecoin News

September 16, 2025
UK and US Push for Closer Crypto Ties – Here is What You Should Know

UK and US Push for Closer Crypto Ties – Here is What You Should Know

September 16, 2025
Trump’s Shocking $15 Billion Lawsuit Against the New York Times – Here is What You Need to Know

Trump’s Shocking $15 Billion Lawsuit Against the New York Times – Here is What You Need to Know

September 16, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews