Jack Dorsey’s bitcoin-focused TBD business unit, a subsidiary of Block Inc., announced on Friday that it is building a new decentralized web: Web5.

Web5 is based on the assumption that Web3, the idea of ​​building a decentralized web using blockchain technology and cryptocurrencies, has the right intentions but uses the wrong tools.

Web5 leverages Bitcoin, the decentralized currency network, and a wealth of solid computing technologies to create a new ecosystem of decentralized identities, data storage and applications where users are in control of their personal information.

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