Web5 is developed by The Block Head (TBH), one of the Bitcoin business units at Dorsey's Block (formerly Square).

Former Twitter CEO Jack Dorsey has announced a new platform on Twitter called 'Web5', a combination of Web3 and Web 2.0, built on the Bitcoin blockchain. The platform promises to fix the issue of securing personal data. "We struggle to secure personal data with hundreds of accounts and passwords we can't remember. On the web today, identity and personal data have become the property of third parties," the company said on its website.

Web5 is developed by The Block Head (TBH), one of the Bitcoin business units at Dorsey's Block (formerly Square). The platform brings decentralized identity and data storage to applications. "It lets developers focus on creating delightful user experiences while returning ownership of data and identity to individuals," according to the company.

We are very well aware that Elon Musk has always been the defender/protector of cryptocurrencies like Dogecoin, Ethereum, and Bitcoin along with Shiba Inu (sometimes). The Tesla CEO remains vocal on his crypto allegiances, also reflected in the adoption of crypto for payments by Tesla and Space X.

Last month, DOGE got an Elon Musk boost on news that SpaceX would soon accept the meme coin for merch payments. Since then, Elon Musk and DOGE have reunited, with the talk of Web69.

Dorsey's followers responded positively to the announcement. One follower tweeted,

"If Jack and Bitcoin can create web5, then Dogecoin can create web69."

your move @elonmusk

— jack (@jack) June 10, 2022

Jack Dorsey responded to the tweet by challenging Elon Musk with a tweet,

"Your move @elonmusk."

Elon Musk replied with fire emojis to leave the DOGE community wondering whether a Dogecoin-based web69 can become a reality.

web69 is ??

— Elon Musk (@elonmusk) June 11, 2022

A race to deliver a truly decentralized version of the internet to supersede Web3 would be enthralling for Bitcoin and Dogecoin supporters.