Home News Jack Dorsey questioned decentralization of Web 3.0

Jack Dorsey questioned decentralization of Web 3.0


Jack Dorsey, the co-founder of Twitter and CEO of Block, believes that the Internet of the Web 3.0 concept based on blockchain will not be decentralized due to the strong influence of venture capital.

Thus, the post has garnered over 42,000 likes and 7,017 retweets. In the ensuing discussion, many disagreed with Dorsey. He was also reminded that his projects had attracted “a lot of venture capital money.”

Moreover, his supporters pointed to the Messari data, indicating that venture capital firms own significant volumes of tokens of many large blockchain projects.

The former CEO of Twitter in response hinted at a16z

Among those who supported Dorsey was Elon Musk, who asked if “anyone has seen Web 3” at all. The former CEO of Twitter in response hinted at the Silicon Valley venture giant Andreessen Horowitz (a16z).

The firm pays a lot of attention to technology projects and Web 3.0 supporter general partner Chris Dixon joined the discussion. He recalled the famous saying of Mahatma Gandhi about the stages of victory. “You’re a fund determined to be a media empire that can’t be ignored…not Gandhi,” Dorsey said.

Next, he retweeted a cartoon depicting how, thanks to the boom of Web 3.0 technologies, capital is pouring into venture capital companies, and retail investors get drops.

Andreessen Horowitz blocked Dorsey

Andreessen Horowitz blocked Dorsey on Twitter, and he turned to direct criticism of the company; offering to replace in its slogan, “we invest in software eating the world”, the last word on the Web.

Previously, the payment company Block (formerly Square), founded and headed by him, announced users ability to gift Bitcoin (BTC) for the holidays using Cash App.

Cash App said that its 40 million monthly active users may give as little as $1 in BTC; or shares as a gift in the same way they used to send cash. Customers can transmit cryptocurrency to third parties as payments or gifts through the payments company. Which joins the likes of PayPal and Coinbase. Furthermore, the company invested $50 million and $170 million of its own capital in Bitcoin.

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