In an episode of news’s “Beyond The Valley” podcast published last Friday, Tim Berners-Lee, the inventor of the World Wide Web, called cryptocurrency “dangerous” and compared it to gambling.
When discussing the future of the web, Berners-Lee stated that digital currencies are “only speculative” and compare it to the dot-com bubble. Which internet stocks were highly inflate despite the lack of a solid business behind them.
“It’s only a guess. “That’s extremely risky,” Berners-Lee told news. “It’s basically if you want to get a kick out of gambling.” “Investing in purely speculative things isn’t what, where I want to spend my time,” he added.
Berners-Lee believes that digital currencies could be helpful in remittances if they are immediately convert into fiat currency upon receipt.
The World Wide Web was invent in 1989 by a British computer scientist. However, Berners-Lee has been dissatisfy with how his original vision for the web has evolved. Berners-Lee, along with John Bruce, is attempting to reshape the future of the internet through his startup Inrupt to give people more control over their data. Both spoke to “Beyond The Valley” about the end of the internet in a wide-ranging interview.
Many supporters have discussed the internet’s future regarding Web3, a catch-all phrase without apparent meaning. However, supporters frequently claim. That this version of the internet is based on blockchain technology, which first appeared with the cryptocurrency bitcoin. Web3, according to some, is a decentralised internet that deprives giants like Facebook and Google of some of their power.
However, Berners-Lee stat that the internet’s future is “Web 3.0,” which he distinguishes from Web3. His proposal for reshaping the internet is Web 3.0.
“It’s not blockchain,” Berners-Lee said, implying that the technology is too slow and insecure.