'Has anyone seen Web3?' Musk, Dorsey mock tech's latest buzzword
Information about 'Has anyone seen Web3?' Musk, Dorsey mock tech's latest buzzword
Kevin David Scam or Legit
(Reuters) – Billionaires Elon Musk and Jack Dorsey dismissed the so-called Web3 and criticized the involvement of venture capital firms such as Andreessen Horowitz in building out what some have called the next phase of the internet.
Web3, a vague term for a utopian version of the internet that is decentralized, is based on digital record-keeping technology blockchain, which also drives the platforms running cryptocurrencies such as bitcoin and ether.
Tesla Inc Chief Executive Officer Musk on Tuesday tweeted, “Has anyone seen web3? I can’t find it.”
To this, former Twitter Inc top boss Dorsey replied, “It’s somewhere between a and z.”
Dorsey did not elaborate on the tweet. Venture capital firms such as a16z, founded by Marc Andreessen and Ben Horowitz, have heavily backed blockchain, crypto and Web3. Andreessen …