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
— jack (@jack) June 10, 2022
$106,722.00
-0.83%$2,647.44
-0.20%$2.28
1.01%$678.71
-1.08%$168.53
-1.54%$0.999794
0.00%$0.219467
-0.43%$0.735232
-1.64%$0.276341
0.31%$2,646.94
0.02%$106,555.00
-0.83%$3.56
-0.48%$3,185.38
0.06%$32.30
-5.95%$15.34
-1.41%$22.76
-2.06%$0.282593
-0.33%$3.39
-0.87%$9.07
0.03%$0.00001413
-0.18%$411.28
0.48%$0.180614
-2.02%$95.11
-0.33%$0.999828
-0.00%$2,650.23
0.11%$4.48
-1.11%$2,821.61
-0.02%$339.60
-1.64%$5.23
-0.05%$0.999611
-0.20%$0.00001373
0.09%$0.999298
-0.12%$0.711191
-2.57%$106,536.00
-0.81%$31.39
-0.54%$6.74
0.25%$255.06
-3.75%$421.27
-3.39%$2.82
0.13%$5.26
-0.88%$203.11
-1.31%$52.03
0.11%$1.00
0.00%$1.17
-0.11%$0.096297
-0.74%$0.909523
-2.28%$5.31
0.58%$35.19
-8.81%$18.38
0.47%$0.097882
-4.09%$20.13
-1.66%$12.04
-2.49%$0.701087
-2.96%$1.053
0.03%$0.869728
-1.76%$0.0263192
-2.79%$4.31
-1.55%$0.378774
-1.13%$0.999397
-0.20%$4.73
-0.25%$1.33
-0.56%$0.227452
-0.07%$106,077.00
-1.54%$0.40785
1.02%$4.42
-0.34%$2.79
-1.50%$0.21304
-1.80%$0.577917
-5.47%$2.56
-1.85%$113.10
-0.47%$0.995933
-0.41%$2,651.94
-0.09%$4.58
-0.54%$178.17
-1.53%$0.00001943
-2.55%$2.24
-3.58%$11.31
-0.37%$0.440315
0.34%$14.08
-4.61%$0.749716
-2.85%$2,766.48
-0.18%$0.999591
-0.09%$0.827304
-3.98%$3,013.22
0.01%$1.24
-0.48%$1.24
-5.12%$0.01809552
-1.84%$4.21
-1.93%$0.218458
-1.19%$0.617137
-1.60%$0.734726
-3.76%$1.074
-2.89%$0.107243
-1.35%$0.062914
-2.00%$1.088
8.55%$106,621.00
-1.09%$0.999407
-0.30%$0.741272
-1.20%$2,820.70
-0.07%$0.00009948
-1.97%$1,665.87
-1.70%$218.49
-1.20%$678.42
-1.24%$106,566.00
-1.06%$2,784.64
0.34%$54.42
2.65%$2.67
-1.39%$0.999579
-0.01%$1.00
-0.01%$2.95
-4.34%$187.41
-1.29%$0.01898022
-2.27%$0.847264
-2.07%$0.01713063
0.40%$107,525.00
-0.58%$0.921596
0.56%$2,772.00
-0.01%$3,319.79
0.60%$3,330.74
0.56%$13.85
11.69%$0.780002
-4.18%$23.39
0.60%$0.200655
-2.87%$0.130645
-4.03%$0.01179142
-4.11%$0.300311
-1.10%$0.551353
1.94%$0.00000072
0.30%$35.89
0.13%$4.36
-3.13%$106,164.00
-1.09%$0.999719
-0.02%$0.113342
0.03%$3.59
-1.97%$0.6242
-0.44%$111.22
0.01%$1.85
-3.63%$0.064703
-1.74%$0.997448
-0.03%$0.394386
-0.79%$2.02
-0.46%$1.84
-3.59%$0.01761098
-3.48%$2,649.53
0.01%$1.09
0.08%$0.578865
0.38%$2.11
-4.86%$2,654.96
0.13%$0.304315
-1.06%$0.712488
0.96%$0.219041
-0.53%$0.213063
5.79%$2,752.35
0.97%$2,824.26
-0.12%$2.19
-0.52%$106,653.00
-0.93%$2,649.97
0.10%$0.00503516
-1.75%$1.65
4.54%$0.00614987
39.92%$0.997808
-0.02%$0.421904
-0.62%$1.10
0.00%$17.43
-3.21%$106,529.00
-0.91%$0.619259
-1.37%$7.28
-1.17%$0.153011
-4.38%$0.574877
-0.10%$6.52
-0.44%$0.999777
0.01%$0.050317
-0.96%$2.83
-0.41%$0.421003
-0.31%$0.00789509
-5.02%$0.063185
1.86%$0.685023
-1.35%$0.096741
-3.73%$1.36
-1.89%$0.087121
-0.63%$0.00000113
-1.35%$0.00002175
-0.08%$104,271.00
-1.26%$0.00000043
-0.26%$0.169538
-3.20%$0.164427
-1.68%$32.32
-6.06%$0.387143
-7.82%$0.423078
-4.96%$2,645.67
0.07%$0.04296379
-1.72%$1.089
0.01%$1.006
0.75%$36.52
-1.24%$2,808.79
0.23%$1.42
-1.91%$0.00741676
-0.92%$0.386449
-0.60%$0.999782
0.02%$1.001
0.13%$42.38
0.10%$1.41
-4.66%$0.999987
-0.01%$0.01958534
0.60%$0.00446283
-1.14%$0.38372
-0.90%$0.0040225
-6.75%$2,918.65
0.28%$136.14
-0.04%$0.618769
7.73%$106,667.00
-1.05%$0.146146
-7.77%$32.27
-6.16%$0.00510288
-0.65%$2,889.34
0.13%$0.837204
-1.80%$0.03492562
-0.43%$0.227333
0.01%$0.760639
-2.70%$106,550.00
-1.02%$0.00006164
-1.70%$2.79
-0.46%$2,646.97
-0.12%$0.237642
2.56%$0.00368945
-3.95%$19.94
0.79%$0.322393
-0.89%$2,645.63
-0.37%$0.337229
-0.65%$2,862.10
-0.01%$0.00000155
-2.54%$182.70
-1.48%$0.999005
-0.03%$0.998225
-0.36%$22.74
-2.13%$0.999968
0.01%$0.668303
-1.36%$0.274636
-6.51%$0.241797
-2.37%$17.90
-1.49%$0.733328
-3.14%$2.62
-1.97%$23.39
-1.95%$3.15
-1.53%$0.999702
-0.00%$0.00276596
-3.24%$188.22
-1.48%$3,301.07
-0.02%Reading
Jack Dorsey thinks Web3Web3 is a joke, so he’s making Web5 instead.
Dorsey’s TBD, a subsidiary company within Block (previously known as Square), announced today that it is building “Web5: An extra decentralized web platform.”
TBD launched in July 2021 with the aim of creating “an open developer platform” focused on decentralized finance and Bitcoin. Now TBD has its first offering: a platform that promises a new version of the internet in which users will have full control over their own data.
“This will likely be our most important contribution to the internet. Proud of the team,” Dorsey wrote Friday morning.
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
Dorsey also took a not-so-subtle shot at "Web3," which refers to the next iteration of the internet—one that its proponents argue will return the ownership of data to users through decentralized technologies like blockchain networks.
“RIP web3 VCs,” Dorsey tweeted.
Dorsey has in the past been critical of current Web3 models that rely on venture capital funding, singling out Andreessen Horowitz in particular. His use of "Web5" appears to be another deliberate, and cheeky, way to publicly address those concerns.
In terms of what Dorsey's Web5 will actually do, TBD’s website states that the current iteration of the internet is still missing an “identity” layer.
“On the web today, identity and personal data have become the property of third parties. Web5 brings decentralized identity and data storage to your applications. It lets devs focus on creating delightful user experiences, while returning ownership of data and identity to individuals,” TBD’s website reads.
TBD says it wants to create a decentralized web platform to solve this problem. It will be made up of “a new class of decentralized apps and protocols,” according to its website.
If you know anything about Dorsey and his love of Bitcoin (and disdain for all other cryptocurrencies), then it should come as no surprise that Web5 will rely on the Bitcoin blockchain in order to work. Dorsey’s Web5 will use ION, which is a layer-2 protocol built on top of the Bitcoin blockchain.
And unlike the Web3 apps that make use networks such as EthereumEthereum, Web5 will not involve the creation and sale of new tokenstokens.
“Let me clear this up right now, everybody: No. There are no tokens to invest in with web5. Kthx,” TBD’s Lead Mike Brock wrote.
— jack (@jack) June 10, 2022
But TBD’s introduction of Web5 today has everyone asking a different question: What happened to Web4?
Perhaps Dorsey just wants to get as far away from Web3 as possible.
SOL Strategies, a Canadian public company focused on the Solana blockchain, has filed a $1 billion preliminary short-form base shelf prospectus as it doubles down on its investments in the world's sixth-largest crypto. The company said the move aims to provide it with increased “financial flexibility” to capitalize on emerging opportunities within the Solana ecosystem, according to a filing on Tuesday. In other words, the move will allow SOL Strategies to prepare for potential capital raises, al...
Eric Trump and Donald Trump Jr. bashed the traditional finance system and championed the U.S.' pro-crypto pivot and their own digital asset endeavors on Wednesday at the Bitcoin 2025 conference in Las Vegas—underscoring the Trumps' growing enmeshment with the cryptocurrency community, despite critics' concerns over conflicts of interest posed by the First Family's embrace of the industry. The two eldest sons of U.S. President Donald Trump touted the U.S.' foray into Bitcoin and other cryptocurr...
Online trading platform eToro announced on Wednesday that it has added 12 cryptocurrencies to its U.S. platform, expanding its digital asset offerings in the country after sharply scaling back its presence last year due to regulatory constraints. The new tokens available to U.S. users include Cardano, Dogecoin, XRP, and Shiba Inu, among others, bringing the total number of listed assets from three to 15. These tokens join Bitcoin, Ethereum, and Bitcoin Cash, the only crypto assets the firm offe...