TBD, a division of Jack Dorsey's Block company, has just unveiled the concept of a decentralized open source Web5 platform.
According to the company's developers, the project will give users full control over their personal data and digital identities.
Dorsey has said:
"This will likely be our most important contribution to the Internet. Proud of the team."
TBD claims that users' identifying and personal data currently does not belong to them, as it "becomes the property of third parties." By this the developers are referring to corporations and centralized platforms.
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The Web5 vision presented by the team aims to change that.
According to the project's website:
"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."
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