Jack Dorsey’s Bitcoin startup TBD has announced that it will launch a decentralized web platform called Web5.
TBD, a subsidiary of payment company Block (formerly Square), founded by Bitcoin advocate Jack Dorsey, one of the leading names in the crypto community, has announced its decentralized platform called Web5. According to the statement, the initiative, which will focus largely on identity management, will make a great contribution to the internet, according to Dorsey. The startup plans to avoid existing Web3 concepts.
The platform will use ION, a Bitcoin identity layer developed by Microsoft and the Decentralized Identity Foundation. Web5 aims to restore data ownership to users and bring “decentralized identity and data storage” to web applications.
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