Well, that’s great. Because we were building Web5 for years before Jack Dorsey was. We were just calling it Web4.
Using the government of a large, centralized country to prevent others from using a term that is closely based on Web2, Web3, Web4? Not a very decentralized move. I’m glad they backed off of it.
On the other hand, out of all intellectual property laws, I think Trademark law is one of the most useful. But like all property laws, it should be relatively narrow in scope, or it can quickly be abused by squatters. Protecting a name like “Qbix”, “Intercoin” or “Microsoft” is one thing, but “Web5”? That’s something else.