Jack Dorsey begins the battle for Web3 news
Jack Dorsey begins the battle for Web3 news

Jack Dorsey, the former CEO of Twitter and head of the fintech firm Block, has started a heated debate about what proponents call Web 3.0 or Web3, a loosely defined vision of decentralized control of the Internet on the network. Internet.

Although Web3 is still mostly conceptual. It has become an important topic for technology futurists as well as an important vocabulary for cryptocurrency startups and similar frontiers.

Jack Dorsey supported many efforts to play Web3 but denied involvement in it. He noted that he has been bypassed by the powerful venture capitalists and financiers behind him.

This led to attacks from venture capitalists and Web3 supporters. Dorsey tweeted to her 6 million followers: They don't have Web3. Venture capitalists own it. It is a central entity with a different name.

Supporters of Web3 see this as a way to escape from technology companies that control the Internet and sell user data to advertisers.

Proponents believe that Web3 is not dominated by a few giants. It also provides a digital infrastructure that is more equitable and less vulnerable to government control.

Proponents say that blockchain and related technologies can be used for everything from creating new forms of currency to creating alternative social media platforms that allow users to better control content.

Dorsey's words are especially important because he defends many topics he considers to be at the heart of Web3, including blockchain and cryptocurrency.

This month, his fintech company changed its name from Square to Block and used blockchain technology as part of its inspiration.

Jack Dorsey has also become one of the most prominent supporters of the cryptocurrency Bitcoin. “I think there is nothing more important in my life than that,” he said at a Bitcoin conference earlier this year.

Jack Dorsey hired venture capitalists

Bitcoin has also been the subject of centralized ownership problems. A recent study by the National Bureau of Economic Research found that approximately 0.01% of bitcoin holders control 27% of the 19 million bitcoins in circulation.

Dorsey's comments led to a response from Chris Dixon, general partner of Andreessen Horowitz. Andreessen Horowitz is a leading venture capital firm in Silicon Valley. The company has been a huge supporter of cryptocurrency startups and other Web3 projects.

Dixon said that in web3, all code, data and proprietary code is open source. Read it and decide for yourself, venture capital firms rarely do.

Eric Voorhees, an early advocate of Bitcoin and founder of cryptocurrency platform ShapeShift, also criticized Dorsey.

Voorhees tweeted that you don't own web3 because VC owns part of it, just as you say you don't control Bitcoin because VC controls part of it too.

Other CTOs participated in the debate with varying degrees of seriousness. Box CEO Aaron Levy has raised concerns about Web3's vision.

Tesla CEO Elon Musk is also a cryptocurrency advocate himself. Dorsey replied: It falls somewhere between the A-Z, clearly referring to Andreessen Horowitz.

Dorsey posted a screenshot that appears to show her Twitter account has been banned from Mark Anderson's account. In his tweet, he said: I am officially banned from using Web3.

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