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Web3 is superfluous - Dorsey and Musk agree


 

Proponents of the so-called Web3 believe that a number of different technologies are capable of turning the Internet upside down. Primarily, the power relations are meant that allow large tech corporations to run their platforms in total control.

The Facebook scandals alone show that the end consumer can actually become a product very quickly. This control is to be withdrawn in the Web3, especially with blockchain technology, and ownership of their data and digital content is to be assigned to users.

That sounds good, but recently two prominent personalities came onto the scene. Jack Dorsey started a debate on Twitter and Elon Musk assisted.

Is the Web3 a plaything for venture capital?

The marvels of technology that are supposed to make the Internet truly decentralized, however, require investors to become reality. Dorsey's strongest point of criticism is the fact that Web3 projects need to incentivize their investors. He warned via Twitter that users of Web3 projects may in future ensure that the cash register rings with investors.

In the end, nothing would change because the interests of third parties would have to be served again, according to Dorsey. Apparently Elon Musk agrees and asked maliciously if anyone had seen the Web3. Musk and Dorsey are not on the same wavelength in every respect. Musk is an advocate of memecoins and Dorsey sees the future in Bitcoin only.

Regardless of how to position yourself in relation to Dogecoin and Bitcoin, in the end the great vision of the Web3 could actually be a castle in the air.

"Bitcoin only" - Dorsey has a mission

Even if the criticism cannot be completely dismissed, Jack Dorsey is not entirely impartial either. After vacating his chair on Twitter, he sets out with Square to advance the development of Bitcoin globally.

He left the artist Cardi B in no doubt about that either. When asked if cryptocurrencies could replace the dollar , Dorsey replied that Bitcoin can.

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