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Jack Dorsey, co-founder of Twitter and the popular payments company Square, believes that Web5 will be the next evolution of the Internet, bringing greater efficiency and more convenience to our everyday lives than ever before. Although this iteration of the Internet has only been around since 2014, Jack Dorsey predicted its rise in a 2013 tweet and has since been working with other tech giants to bring this ambitious project to fruition. So what exactly is Web5? And why does Jack Dorsey think it’s the future of the internet?

A Brief History of Social Media

The first social media sites were (and still are) chat rooms, where people could meet and interact in real time. Friendster was a popular social network from 2002-2003, though it’s not as active today. MySpace soon followed in 2003, and by 2004 Facebook was founded by Mark Zuckerberg in his Harvard dorm room.

The First Generation

The internet was a pioneer, and it forged a path for generations to come. The first iteration of digital communication is still alive and kicking, with products like Snapchat, WhatsApp, Facebook Messenger and other messaging apps leading the pack. However, many users are hungry for more innovation—and Jack Dorsey wants to give it to them.

The Second Generation

As more and more people get connected, we’re seeing more changes in how we communicate with each other. Our newsfeeds are changing from text-based to images, and tweets no longer require 140 characters. Right now, we’re in what Dorsey calls Generation 2 – where we still use text on social media sites like Twitter and Facebook; Gen 3 will be all images, as you can see on Instagram.

Twitter (Web 2.0)

Twitter has brought us closer to our friends and family who are scattered around the world. It has given us an outlet to share what we’re thinking, feeling, and doing as it happens in real time. It is also a powerful tool for small businesses that want to grow quickly and can help them connect with potential customers in a way they wouldn’t be able to do otherwise. As Twitter continues to grow, so does its importance in everyday life.

Web3 – Signal v. Noise

Web3, also known as The Third Web, refers to a web that no longer requires a centralized server. It’s frequently called the decentralized web, meaning it’s created and maintained by its users instead of someone else (like Google or Facebook). Some people think it will take over from today’s web because it allows for greater control of information online (including who has access to your data) and creates an economic ecosystem where one doesn’t exist today.

What is Web5?

Web5 isn’t a new web browser or some sort of virtual reality project. Rather, it’s a decentralized, open source internet protocol that will allow users to harness more control over their data. And Jack Dorsey, Twitter and Square CEO, has big plans for it. More importantly, in his mind, it could help provide billions with greater access to vital services and information — no internet connection required.

How Will it Change Our Lives?

The World Wide Web started out as a virtual utopia. It was supposed to be an interactive, collaborative space that helped us share ideas and educate each other in new ways. But over time, it became increasingly dominated by giant companies and superpowers who could influence what we see when we go online. Will Web5 change that? Jack Dorsey sure thinks so.


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