Goodbye smart contracts, hello Bitcoin. Web3 critic jack and his team at TBD54566975 are out with their alternative vision for a decentralized internet: Web5. skesslr reports from Consensus2022
has never been a secret. In his view, Web 3 – blockchain boosters’ dream of a censorship resistant, privacy-focused internet of the future – has become just as problematic as the Web 2 which preceded it.At Coindesk’s Consensus Festival in Austin, TBD – the Bitcoin-focused subsidiary of Dorsey’s Block – announced its new vision for a decentralized internet layer on Friday. Its name? Web 5.
A play on the Web 3 moniker embraced in other corners of the blockchain space, Web 5 is built on the idea that incumbent “decentralized internet” contenders are going about things the wrong way. “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.
Web 5, like Web 3, will enable users to interact with one another without intermediaries. This, in theory, means no threat from government censors or centralized service outages, among other supposed advantages.
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