Coinspeaker
Block’s TBD Moves to Trademark Web5
Block’s bitcoin-focused subsidiary TBD has unveiled plans to trademark the name Web5 to prevent its misuse. Clarifying their position, TBD Lead at Block Mike Brock noted that Block will not benefit commercially from trademarking the name.
A Background
Recall that after citing the centralized ownership and management of most web3 platforms, Jack Dorsey proposed a new iteration of the internet called Web5. Thereafter, TBD announced the plan for Web5 during CoinDesk’s Consensus Festival in June.
According to the announcement, Web5 will be an open, secure, and decentralized internet layer. It will combine the benefits of both Web3 and Web2, giving users a chance to own their data and control their identity. Essentially, Web5 will bring data storage and decentralization to applications.
The announcement of Web5 received phenomenal support from many, showing their interest. The firm also called on companies and individual contributors
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