Block’s TBD54566975 team recently published a blog post explaining the “Web5” project they announced earlier. Web5’s objective is to return ownership of data and identity to individuals. As we have seen how the tech giants gained unchecked power over the people on the internet in recent years, this project’s objective is no doubt alluring. However, I think the current design of Web5 is unable to answer several important challenges we have seen from early web decentralization projects.What is ...