Jack Dorsey, the founding father of Twitter created a storm on the social media platform after deeming Internet 3.0 a monopoly floor for giant corporates and VC funds. The assertion got here the identical day when Elon Musk took a dig at Internet 3.0 applied sciences as effectively. Dorsey mocked conventional enterprise capital corporations comparable to Andreessen Horowitz who’re investing thousands and thousands in crypto corporations and the way they don’t seem to be all for decentralization.
He shared the mission assertion from the corporate which accurately says “we spend money on software program consuming the world”
this mission assertion has all the time felt so…darkish pic.twitter.com/82hFvTd7fO
— jack⚡️ (@jack) December 22, 2021
Whereas many crypto startups working onerous in the direction of internet 3.0 didn’t take the feedback of their stride and Dorsey got here out to elucidate that he’s not essentially in opposition to the event of Internet 3.0 applied sciences as a lot as he’s in opposition to VC monopoly.
I promise this can be a battle in opposition to the “wealthy dudes” profiting from individuals such as you who ought to personal all of it
— jack⚡️ (@jack) December 23, 2021
Dorsey who has held the place of CEO of Twitter for fairly a while has stop because the CEO to concentrate on Bitcoin fully by way of his standard Bitcoin enterprise Square Inc. The previous Twitter CEO is a widely known Bitcoin proponent who has stated it himself prior to now that he would finally stop Twitter to focus full-time on creating Bitcoin-based open-source merchandise.
Former Twitter CEO wages warfare on centralization
Bitcoin appears to have smitten Dorsey to his core and he appears to grasp the significance of decentralization and open-source greater than another CEO at this level. He’s usually seen as a Bitcoin maximalist particularly from the Ethereum proponents as he has dismissed any suggestion that includes another cryptocurrency than Bitcoin. Nevertheless, he has cleared that he’s not essentially a Bitcoin maximalist as he’s extra centered on decentralization.
I’m not anti ETH. I’m anti-centralized, VC-owned, single level of failure, and company managed lies. In case your purpose is anti institution, I promise you it isn’t ethereum. Don’t consider or belief me! Simply take a look at the basics.
— jack⚡️ (@jack) December 23, 2021
Jack Dorsey-led Sq. Inc. is at present engaged on quite a lot of Bitcoin-centered merchandise comparable to a decentralized alternate system, constructing a Defi ecosystem, and an open-source {hardware} pockets as effectively.
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