Jack Dorsey caused a stir with a strange talk on Twitter website 3

One of the internet’s most vocal Bitcoin supporters voiced an unusually uncharacteristic view against Web3 this week. on Monday, Square Block CEO Jack Dorsey has taken to Twitter to warn blockchain enthusiasts about how Web3 is already being chosen by investors. You don’t own ‘web3’ He said In a message I spotted Bloomberg. “Venture capitalists and their LPs do. You’ll never get away with their incentives. It’s ultimately a central entity with a different name. Know what you’re getting into…”

Web3 is the term that many in the crypto community use to describe the next iteration of the Internet. With the help of technologies like blockchain, they argue that the internet will become a more decentralized entity, free from the institutional players that have dominated it since the platform’s early days. Investment firms such as Andreessen Horowitz have been among the most vocal supporters of companies in the space. As of October, the company has earmarked investment in crypto and Web3 startups. “It’s somewhere between an a and a z,” Dorsey said, referring to “a16z,” her nickname when Tesla CEO Elon Musk Join the conversation To ask if “Anyone has seen web3?”

It’s not clear what prompted Dorsey to take to Twitter to say what he did. After all, this is the man who wanted the world to know he had a bitcoin watch in his kitchen when he testified before Congress. It should also be noted that Dorsey runs a company that is heavily involved in blockchain technologies.

It is clear that his tweet caused an uproar. As of writing this article, the post has attracted over 5,000 retweets, 2,000 quote tweets, and 31,000 likes. Of course, the bored monkey squad came out to tell Dorsey that he was “completely wrong,” but just as many people came to offer support, calling it “based on” his tweet.

Despite all of Dorsey’s generated buzz tweet, there is a kernel of truth to what he said. on Monday, Quoting a new study from the National Bureau of Economic Research, 0.01 percent of those who control bitcoin have identified 27 percent of the digital currency. Another recent study from It found that only ten percent of NFT investors completed 85 percent of all transactions involving those assets. In fact, decentralization.

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