Tim Berners-Lee, the creator of the World Wide Web, again warned cryptocurrency enthusiasts and said crypto is dangerous in a podcast episode.
Berners-Lee spoke out about the future of the internet, saying digital currencies are “only speculation” and comparing it to the dot-com bubble. He said, “Investing in certain items, which are purely speculative, isn’t what I want, where my time is spent.”
Berners-Lee stated, however, that digital currencies can be used for remittances, provided they are immediately converted into fiat currency upon receipt.
British computer scientist, Berners-Lee, is believed to have invented the World Wide Web in 1989. He is dissatisfied with the outcome of his original vision for the web. Berners-Lee, along with John Bruce, is trying to change the future of the web through his web3.0 startup Inrupt. The goal is to give people more control over their data.
Many internet proponents speak of the future of the internet as Web3, which is a generic term that has no clear meaning. Proponents say that this version of the internet is based on blockchain technology. Web3, according to some, is a decentralized internet that takes some power away from giants such as Google and Facebook.
Berners-Lee stated that the future of the internet is “Web 3.0,” which he differentiates from Web3. Web 3.0 is Berners-Lee’s plan to reshape the internet. He further said, “It is not blockchain,” implying that the technology isn’t fast or secure.