On an episode of CNBC’s “Beyond The Valley” podcast that was released on Friday, the creator of the World Wide Web, Tim Berners-Lee, referred to cryptocurrencies as “hazardous” and drew comparisons between it and gambling.
Lee’s view
During his discussion of the future of the web, Berners-Lee stated that digital currencies are “only speculative” and compared the situation to the dot-com bubble. During the dot-com bubble, internet stocks were highly inflated, even though many of these companies lacked a stable business behind them.
“It’s just conjecture at this point. That is, without a doubt, fraught with peril “Berners-Lee stated this to CNBC. “If you want to get a thrill out of gambling, basically.”
According to him, Investing in certain things, which is pure speculation, is not what nor where he wants to spend his time. Tom prefers a life spent on writing and editing. However, Berners-Lee believes digital currencies may be beneficial for remittances if they were transformed back into fiat currency as soon as they were received.
In 1989, the British computer scientist Tim Berners-Lee was credited with developing the World Wide Web. However, Berners-Lee has expressed his displeasure with the way his original vision for the web has been realized, which has led to his frustration. Berners-Lee, along with John Bruce, is working to redefine the future of the internet with their company, Inrupt. Their goal is to provide individuals with a greater degree of control over their personal data. Both appeared on CNBC’s “Beyond The Valley” to discuss a variety of topics related to the foreseeable development of the internet.
Lee is optimistic about Web 3.0 but not web3
The future of the internet has been discussed by numerous advocates in terms of Web3, which is a catch-all word that does not have a precise meaning. Nonetheless, advocates frequently assert that this particular iteration of the internet is powered by blockchain technology, which was initially implemented with the digital currency Bitcoin. Some people believe that Web3 will be a decentralized internet that will strip internet giants like Facebook and Google of part of their influence.
On the other hand, Berners-Lee believes that “Web 3.0,” which he differentiates from “Web3,” will be the future of the internet. His vision for the future of the internet is outlined in his concept known as Web 3.0. Berners-Lee stated that the technology in question is not blockchain, implying that it is not sufficiently brisk or secure.
