Despite the name, Web5 does not follow the yet-to-be-created Web4. Rob_Stevens_ explains:
The other thing that is different from Web3 is that Web5 works with existing Web2 services; it does not seek to replace them entirely. Web5’s pitch deck provides the example of Groove adding a playlist to a Web5 user’s decentralized identifier, which another music service, Tidal, can use to fashion its own playlists within the app. The decentralized identifier prevents the user from having to recreate their preferences on another platform.
TBD’s other example of Web5 in action involves one user granting her hotel, airline and rental car provider the ability to add information to her database about her trip. The user can revoke access at any time and choose another service to “help her visualize her itinerary.” Again, the idea is to tie data that’s usually locked inside centralized services – something TBD calls “a massive, unworkable mess” – to a single user-controlled identity.
Will it work? Time will tell. So far, the only decentralized identity service that’s caught on in any measure is the Ethereum Name Service, and the only data storage system with any cachet is the interplanetary file service . One of the key things that distinguish TBD’s ambition is the backing of its billionaire progenitor, Jack Dorsey. But it’s unclear how Web5 would make money or why, ideological reasons aside, the company is creating such a service. Strategy consultant
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