'You don't own Web 3.0,' says Jack Dorsey, criticizing its centralized nature
In a series of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of Twitter, as well as the founder and CEO of Square (now Block), voiced his criticism over the direction of Web 3.0 development. Elon Musk, the CEO of Tesla, joined Dorsey in the mockery. On an unrelated note, the same day, Dorsey replied, "Bitcoin will" when asked if crypto will replace the dollar.
Within context, Web 3.0 is a decentralized version of the virtual world that will in part feature public blockchains, metaverse technology, nonfungible tokens and decentralized finance free from the grasp of centralized power sources, such as corporate servers.
You don’t own “web3.”The VCs and their LPs do. It will never escape their incentives. It’s ultimately a
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