Billionaires Elon Musk and Jack Dorsey dismissed the so-called Web3 and criticized Andreessen Horowitz and other venture capital firms for participating in the construction of a What some people call the next stage of the Internet.
Web3 is a vague term for the utopian version of the decentralized Internet. It is based on the digital record-keeping technology blockchain. It also drives platforms that run cryptocurrencies such as Bitcoin and Ethereum. The price of Bitcoin in India is rupee. The price of 3.88 million and Ether in India is Rs. As of 10:00 AM on December 22, U.S. Standard Time, there were 3.19 million.
Tesla CEO Musk tweeted on Tuesday, “Has anyone watched web3? I can’t find it.” Dorsey did not elaborate on the tweet. Venture capital companies such as a16z, founded by Marc Andreessen and Ben Horowitz, strongly support blockchain, encryption, and Web3. Andreessen Horowitz could not be immediately reached for comment.
According to its supporters, Web3 aims to give users ownership of platforms and applications. In the current form of the Internet, Web2, only a few major technology giants such as Meta and Alphabet’s Google control the platform. “Own “web3″,” Dorsey tweeted Monday night. “VC and their LP do this. It will never escape their incentives. It is ultimately a centralized entity with a different label. Know what you are entering…”
Dorsey’s tweets received thousands of likes and reposts, but many users also expressed different opinions.
For such a tweet with the opposite view, Dorsey responded: “If a tweet kills hopes and dreams, we will face bigger problems. There is nothing wrong with this at the moment. Criticism can help solve the problem, or save energy. Move on to more important things.”
Web3 joined the ranks of non-fungible tokens (NFT) and Metaverse, and became a technology buzzword that attracted a lot of attention and funds this year.
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