{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Block’s Mike Brock on 'Web5' and the role of digital identities","html":"","width":"100%","height":180,"duration":2813,"description":"Block CEO Jack Dorsey has called 'Web5,' a decentralized identity platform under development by TBD, the Block's blockchain arm, \"likely our most important contribution to the internet.\"\nIn this episode of The Scoop, TBD lead Mike Brock explains how Web5, whose name is a play on the idea of connecting Web2 and Web3, aims to reimagine the way trust is established and maintained, and how digital identity can connect the emerging decentralized financial system to the existing real-world economy.\nHardcore crypto proponents dream of creating a fully decentralized, trustless system. But Brock says there are some practical problems with transacting in such a world:\n\"Are you going to go and buy a gold watch from an anonymous online merchant and then send them a non-reversible payment for $10,000 and just hope that it gets drop-shipped to you?... We can't build an economy around that. We have to have a way to authenticate with the real world.\"\nThat's where the Web5 platform comes in. Brock describes it as a \"messaging layer that ultimately allows you to establish secure transactions, with negotiated social trust.\"\nUsers of Web5 are in control of both their identities and their data — something Brock believes will facilitate a new way for the developing decentralized economy to connect with known, verifiable actors in the real world:\n\"We're trying to build on-ramps and off-ramps from the real world — fundamentally, that's what digital identity ultimately gets you.\"\n\nEpisode 74 of Season 4 of The Scoop was recorded live at The Block headquarters with The Block's Frank Chaparro and TBD Lead at Block, Mike Brock.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen\nAbout Chainalysis\nChainalysis is the leading blockchain data platform. We provide data, software,...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}