Former Twitter CEO recently announced his vision for a new decentralised web platform that is being called Web 5.0.
What is it?
- Referred to as the Next web: web 5.0 combines the attributes of an open, linked and intelligent web to produce an emotional web.
- It will map individuals’ feelings in real time and know what the person is feeling due to his interaction with the web.
- Web 5.0 is Web 2.0 plus Web 3.0 that will allow users to own their identity on the Internet and control their data.
- It holds a digital wallet that securely manages her identity, data, and authorizations for external apps and connections. Wallet will be used to sign in to a new decentralised social media app.
Issues/ Challenges associated with current Web
- A missing layer: The web democratised the exchange of information, but it is missing a key layer that is identity.
- Personal data: We struggle to secure personal data with hundreds of accounts and passwords. Identity and personal data have become the property of third parties in today’s world.
- Ownership: Web 3.0 is not truly decentralised or owned by its users, but is instead controlled by various venture capitalists and limited partners.
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