Tim Berners-Lee is credited with inventing the World Wide Web in 1989. But he was not satisfied with how successful his initial vision of the web was.
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Tim Berners-Lee, inventor of the World Wide Web, called cryptocurrency “dangerous” and likened it to gambling in an episode of the show “Beyond the Valley” podcast was published last Friday.
Discussing the future of the web, Berners-Lee said cryptocurrencies are “just speculative” and likened it to the dot-com bubble, in which internet stocks, typically, have no trading activity. firmly behind, inflated high.
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“It’s just speculation. Obviously, that’s really dangerous,” Berners-Lee told CNBC. “[It’s] basically if you want to get out of gambling.”
“Investing in certain things, which is purely speculative, is not where I want to spend my time,” he added.
However, Berners-Lee said digital currencies can be useful for remittances if they are immediately converted back to fiat when they are received.
British computer scientist credited with inventing the World Wide Web in 1989. But Berners-Lee was not satisfied with his original vision of the web. Together with John Bruce, Berners-Lee is looking to reshape the future of the internet through his startup Inrupt, with the aim of giving people more control over their data. The two spoke to CNBC’s “Beyond The Valley” in a wide-ranging interview about the future of the Internet.
The Future of Web3
Many supporters have been talking about the future of the internet in terms of Web3, a catch-all phrase with no clear meaning. But advocates often say that this version of the internet runs on blockchain technology that first came into being with the bitcoin cryptocurrency. Some people argue that Web3 is a decentralized internet that takes some power away from giants like Facebook and Google.
But Berners-Lee says the future of the Internet is “Web 3.0”, which he distinguishes from Web3. Web 3.0 is his own proposal to reshape the internet.
“It’s not blockchain,” Berners-Lee said, suggesting the technology isn’t fast enough or secure enough.
