World Wide Web Inventor Tim Berners-Lee Says Crypto Is ‘Really Dangerous’ but Can Be Useful for Remittances

World Wide Web Inventor Tim Berners-Lee Says Crypto Is ‘Really Dangerous’ but Can Be Useful for Remittances

The inventor of the World Wide Web, also known as www, which is often called the web, Tim Berners-Lee called cryptocurrency “dangerous” and likened it to gambling.

Discussing the future of the web, Berners-Lee said digital currencies were only speculative and compared them to the dot-com bubble, where the internet stocks, often without a solid business behind them.

“That’s just speculative. Obviously, it is very dangerous. Investing in certain things, which are purely speculative, is not where I want to spend my time,” said Berners-Lee, quoted from CNBC, Wednesday (22/2/2023).

Even so, Berners-Lee says, digital currencies can be useful for remittances if they are immediately converted back into fiat currency when received.

British computer scientist credited with inventing the World Wide Web in 1989. But Berners-Lee wasn’t satisfied with the way his original vision for the web had worked out.

Together with John Bruce, Berners-Lee wants to reshape the future of the internet through his startup Inrupt, with the goal of giving people more control over their data.

Many proponents have spoken of the future of the Internet in terms of Web3, a generic phrase with no clear meaning.

But proponents often say this version of the internet runs on the blockchain technology that first appeared with the bitcoin cryptocurrency.

Web3, some say, is a decentralized internet that takes away some of the power 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 its own proposal to reshape the internet.

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