{"id":175723,"date":"2023-05-19T19:31:48","date_gmt":"2023-05-19T19:31:48","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175723"},"modified":"2023-05-19T19:31:48","modified_gmt":"2023-05-19T19:31:48","slug":"jack-dorseys-tbd-announces-new-web5-toolkit","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jack-dorseys-tbd-announces-new-web5-toolkit\/","title":{"rendered":"Jack Dorsey\u2019s TBD announces new Web5 toolkit"},"content":{"rendered":"

TBD, a division of fintech company Block, which is led by CEO Jack Dorsey,\u00a0announced a novel Web5 decentralized web platform at Bitcoin 2023 in Miami on May 19.\u00a0<\/p>\n

The platform aims to introduce \u201cdecentralized identity and data storage\u201d to applications, thereby allowing developers to leverage the technology to create \u201cdelightful user experiences, while returning ownership of data and identity to individuals,\u201d the company shared.\u00a0<\/p>\n

Dorsey\u2019s Web5 platform also seeks to introduce several key components to facilitate this decentralized web experience. Under the platform, wallets will act as agents, facilitating identity and data interactions for individuals and institutions. Decentralized web nodes will serve as personal data stores, securely holding both public and encrypted data, while decentralized web apps leverage decentralized identity and data storage capabilities to enhance user experiences.<\/p>\n

Furthermore, the Web5 platform will also employ the use of decentralized identifiers (DIDs), which are internationally recognized standards for identifiers created and controlled by individuals, eliminating reliance on centralized entities. The platform will also incorporate self-sovereign identity services and software development kits that provide the necessary tools for utilizing DIDs and verifiable credentials.<\/p>\n

Related: Jack Dorsey\u2019s Block asks for input on proposed \u2018mining development kit\u2019<\/em><\/strong><\/p>\n

In recent years, Dorsey \u2014 who founded Twitter \u2014 has advocated for a \u201cfree and open protocol\u201d for social media. In June 2022, Cointelegraph announced that <\/strong>Dorsey was building \u201cWeb5\u201d powered by Bitcoin\u00a0(BTC), <\/strong>focused on bypassing Web3 entirely and utilizing a new Bitcoin-centric model for identity management.<\/p>\n

Magazine: <\/em><\/strong>Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TBD, a division of fintech company Block,<\/p>\n","protected":false},"author":3,"featured_media":175722,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJack Dorsey\u2019s TBD announces new Web5 toolkit - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/jack-dorseys-tbd-announces-new-web5-toolkit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jack Dorsey\u2019s TBD announces new Web5 toolkit - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"TBD, a division of fintech company Block,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/jack-dorseys-tbd-announces-new-web5-toolkit\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-19T19:31:48+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Jack-Dorseys-TBD-announces-new-Web5-toolkit.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/jack-dorseys-tbd-announces-new-web5-toolkit\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/jack-dorseys-tbd-announces-new-web5-toolkit\/\",\"name\":\"Jack Dorsey\u2019s TBD announces new Web5 toolkit - 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