People can reclaim custody of their data by hosting it on their own devices and accessing it from any location of their choosing, thanks to a new version of the Internet known as Web 5.0. This version of the Internet was recently released.
Jack Dorsey, a former CEO of Twitter, has announced his plans to build a new version of the web known as Web 5.0. This web version would utilize blockchain technology to give data owners greater control over their information. Dorsey’s plans were made public.
Using blockchain technology, the primary objective of Web 5.0 is to provide data owners with increased control over the information they save about themselves.
According to the central concept driving its development, this new version of the web will provide users with increased control over their data by enabling them to keep it on their own devices and access it in any location of their choosing.
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It is anticipated that this next version of the Internet will be deployed in 2030, making it possible to share personal information online while maintaining a higher level of security.
It is anticipated that this next version of the Internet will be deployed in 2030, making it possible to share personal information online while maintaining a higher level of security.
Web 5.0, the most recent version, is now active during development. Despite this, several people have referred to it as a hybrid of Web 1.0 and Web 3.0. Web 5.0 will offer more valuable capabilities than any previous Internet generation.
The Web 5.0 platform will provide more useful features than any Internet generation that came before it. The version of Web 5.0 that Dorsey outlines, on the other hand, stands out from the crowd because of his assertion that it would be “really” decentralized. This indicates that neither governments nor intermediaries can handle or store consumers’ data.
As a direct result, neither national governments nor massive technology corporations can exercise control over the information flow on the Internet.
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To put it another way, no centralized authority can monitor and track every piece of information that is transferred via computers and other devices linked to the Internet. There is no way for intermediaries like Facebook or Google to obtain all of their users’ data and then sell it to other companies.
Web 5.0 does not rely on centralized servers owned by large companies; instead, it depends on decentralized peer-to-peer networks. Within these networks, all users have equal access to the resources and information stored on their devices or computers, and geographical borders or political boundaries do not limit them.
Users will need a digital wallet that can store their identity, data, and authorizations to access the decentralized version of Web 5.0. This wallet will be required for users. They will be able to continue using the social networks they already have without creating a profile if they do this.
Because the confirmed identity of the user is already kept in the digital wallet, it will not be necessary for them to create a profile by utilizing a decentralized social networking program. Users will appreciate the time savings and the ease with which they may switch between programs.
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As long as the user grants the new vendor access to their data, all of the user’s previously created playlists and preferences will be accessible via the new vendor even if the user switches between various music applications or video services.
This is because the user’s settings are stored in the digital wallet. Moreover, because all of the user’s settings are stored in the digital wallet means that all of the user’s settings are stored in the digital wallet. Users are now able to share their information with numerous service providers as a result of the fact that the user’s decentralized digital wallet may hold all of these personal settings and preferences.
