Jack Dorsey is building ‘Web5’ powered by Bitcoin

Block subsidiary TBD has announced plans to build a new decentralized web centered around Bitcoin (BTC) Jack Dorsey’s new project, called “Web5,” is being envisioned as an identity-based system that only utilizes one blockchain: Bitcoin. Dorsey's motivation for pursuing a new web development model may stem from his belief that Web3 will never achieve true decentralization. The Block CEO has publicly criticized Web3 and the venture capital community that supports its development, which he believes will one day become the internet's native currency. Block has a lofty vision of ‘evolving the Web’ by prioritizing identity management and prioritizing the internet’�s development. The project will also have a monetary network centered around BTC. Source