FTX just imploded, and Jack Dorsey wants to talk about the next stage for crypto?

FTX just imploded, and Jack Dorsey wants to talk about the next stage for crypto?


It’s barely been a decade since the launch of Web3, and some are already talking about the next generation of the web Web5. 

The concept of Web5 first emerged earlier this year with Jack Dorsey’s announcement about plans to build a decentralized web on Bitcoin’s blockchain through Block subsidiary TBD. According to Dorsey’s TBD white paper, Web5 will be “a trustless, decentralized internet platform where users own their data” as opposed to Web3, which is mostly centered around Ethereum and a select few centralized blockchain networks.

It’s easy to see why there is a need for change, but is Web5 the answer? With Web3 barely off the ground, surveys suggest that little more than 10% of people in the world think they know what it means —

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