menuIcon
$ 105,219.1
BTC
$ 105,219.1
1.93 %
$ 2,493.80
ETH
$ 2,493.80
1.52 %
$ 0.6671
ADA
$ 0.6671
4.26 %
$ 649.36
BNB
$ 649.36
1.15 %
$ 151.90
SOL
$ 151.90
3.01 %
Prabhjeet Bhatla
Dec 22, 2021
by Prabhjeet Bhatla

WazirX CEO on Whether Web2 to be or Web3

WazirX CEO web3
WazirX founder and chief executive officer Nischal Shetty in one of his tweets commented that when founders can dictate who uses their platform, it’s web2 and when founders can’t do stuff about the person they hate using their platform, it’s web3.

There’s debate on web3 ‘ownership’. Web3 token ownership depends on the founding team. Some teams choose to keep less tokens, some higher. However, a founder or investor CANNOT STOP YOU from using web3 or building on top of it. In web2, they CAN STOP YOU.

In web3 products, YOU and only YOU decide when to stop using a product, Shetty emphasized in the second thread of the same tweet.

In the next thread, he mentioned that web3 does offer you the option to be part of value creation by way of hodling coins and tokens, while it’s debatable on what percentage of tokens should belong to community V/S founders and VCs. What is not debatable is whether any of these founders and VCs can censor you (they cannot).

Web3’s Disrupting Proposition

The fundamental benefit of Web3 is that it gives users some control over the internet's infrastructure. It will not be possible without the use of blockchain technology.

Follow us on: News
WazirX CEO Metaverse Web3 web2
WazirX CEO on Whether Web2 to be or Web3
Prabhjeet Bhatla
Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.

Top Picks