Jack Dorsey caused an alarm with a bizarre message on Twitter on Web3

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One of Bitcoin’s loudest online proponents expressed an unusually unusual opinion against Web3 this week. On Monday, Square Block CEO Jack Dorsey warned blockchain enthusiasts on Twitter that Web3 had already been embraced by investors. “You don’t own ‘web3’,” He said in the message he noticed Bloomberg. “VCs and their LPs do it. This will never escape their incentives. It is ultimately a centralized entity with a different label. Know what you are getting into… ”

Web3 is a term used by many in the crypto community to describe the next iteration of the Internet. With the help of technologies such as blockchain, they claim that the Internet will become a more decentralized entity, without the institutional players that have dominated it since the early days of the platform. Investment companies like Andreessen Horowitz have been some of the loudest supporters of companies in space. Since October, the company has singled out invest in crypto and Web3 startups. “It’s somewhere between aiz,” Dorsey said, referring to “a16z”, his nickname when Tesla CEO Elon Musk joined the conversation ask if “anyone saw web3?”

It’s unclear what prompted Dorsey to say on Twitter what he did. After all, this is a man who wanted the world to know he had 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.

What is clear is that his tweet caused confusion. Since writing this article, the post has attracted more than 5,000 retweets, 2,000 tweets quotes and 31,000 likes. Of course, An Contingent of Annoying Monkeys he appeared to tell Dorsey he was “dead wrong,” but just as many people came to offer support, calling him “based” for his tweet.

With all that Dorsey’s tweet has created, there is a fraction of the truth in what he said. On Monday, , citing a new study by the National Bureau of Economic Research, found that 0.01 percent of those who hold Bitcoin control 27 percent of the digital currency. Another recent study from found that only ten percent of NFT investors completed 85 percent of all transactions involving those assets. Decentralization indeed.

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