World Wide Web Inventor Thinks Crypto Is ‘Dangerous’
Table of contents
World Wide Web Inventor Says Crypto Is Speculative
Berners-Lee considers digital currencies to be speculative and likened them to the dot-com bubble of the early 2000s, where internet stocks were highly inflated without a solid business foundation. However, he acknowledged that digital currencies could be useful for remittances if they are immediately converted back into fiat currency upon receipt.
The British computer scientist who invented the World Wide Web in 1989, has expressed his dissatisfaction with the current state of the internet and how it deviated from his original vision. In an effort to reshape the future of the internet, Berners-Lee has teamed up with John Bruce to launch their startup, Inrupt, with the goal of providing people with more control over their data. Both Berners-Lee and Bruce discussed their vision for the future of the internet in a comprehensive interview with CNBC's "Beyond The Valley."
Future of Web3
There has been much discussion about the future of the internet, with some proponents referring to it as Web3, a term that lacks a clear definition. However, supporters often claim that this version of the internet is based on blockchain technology, which was first introduced through the cryptocurrency Bitcoin. Web3 is believed by some to be a decentralized internet that limits the power of tech giants such as Facebook and Google.
In contrast, Tim Berners-Lee has proposed an alternative vision for the future of the internet, which he calls Web 3.0. He differentiates this from Web3, stating that Web 3.0 is his own proposal for reshaping the internet. He suggests that Web 3.0 does not rely on blockchain technology, as he believes the technology is not fast or secure enough to achieve his vision.