Elon Musk Trolls Web3, Jack Dorsey Supports

• Tesla CEO Elon Musk has aimed a dig at popular crypto trend “Web3”

• The billionaire made a tweet this week, asking “Has anyone seen web3? I can’t find it,”

• Web3 has been described as a decentralized version of the internet based on blockchain

Tesla CEO Elon Musk and Twitter founder Jack Dorsey have taken time today to voice their opinions on the hypothetical iteration of the internet “Web3”.

What is Web 3?

Web 3.0 has been hailed as a decentralized version of the internet based on blockchain.

This crypto trend has received a lot of hype of late, which has resulted in entrepreneurs around the world trying to build protocols that will support the technology.

Advocates for Web3.0 claim that today’s version of the internet is very centralized and controlled by large companies such as Meta(Facebook), Apple, and Amazon.

Elon Musk’s thoughts on Web3

On Sunday, billionaire Musk tweeted a video of an interview about the internet that features Bill Gates in 1995, asking “What will the future be?”

The Tesla boss followed it up by saying “I’m not suggesting web3 is real. Seems more like a marketing buzzword than reality right now, just wondering what the future will be like in 10, 20, 30 years. 2051 sounds crazy futuristic!”

Then on Monday, he made another tweet asking: “Has anyone seen web3? I can’t find it.”

Twitter CEO also weighed in by saying: “It’s somewhere between a and z,”.

Dorsey’s tweet hints at the new internet trend being under the control of venture capital firm Andreessen Horowitz.

Read also: Bitcoin Will Replace U.S. Dollar- Twitter Founder, Jack Dorsey

While Web3 backers want the power of the internet to be collected from giant tech companies and given to the people, Dorsey believes that VCs and their limited partners will be the ones who end up owning it.

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