Former CEO of Twitter, Jack Dorsey was recently made to ‘talk to the hand’ by Marc Andreessen after a comment he made about Web3.
“I’m officially banned from Web3,” Dorsey tweeted Wednesday
This ban came after Jack Dorsey criticized the future of web 3.0 as being owned by rich VC’s like Andreessen instead of ‘the people’
So what does Jack Dorsey mean by this?
For those unaware, web 3.0 is proposed as the next layer of the internet. Web 1.0 was a string of texts, very barebones and not interactive at all. Basically, just a newspaper like Time Magazine.
Web 2.0 introduced user-generated content and interaction, kind of like how WordPress was introduced allowing people to create content using their software(or how websites like Crypto Giggle allow for talented bloggers to entertain all of you).
But the problem with web 2.0 is that all of the content created belongs to that entity. If you post a tweet, that tweet belongs to Twitter, etc.
Web 3.0 is envisioned to be a democratization of the internet. A way for all people to share in the computational resources and creation of content in a decentralized way. Many people envision web 3.0 to be an escape from the corporate oligarchs and giant companies that dominates the internet of today.
“You don’t own ‘web3,’ Jack tweeted. “The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.”
This exchange ultimately led to venture capitalist Marc Andreessen blocking Jack Dorsey on Twitter.
This is just one incident in a long ongoing saga about who owns the internet. Web 3.0 is a bit vague in its description, encompassing as much as Metaverse, Defi, Crypto, AI, and more, but I believe web 3.0 represents a philosophy: The way we want the internet to be, and the way it was meant to be: Free, democratic, and decentralized for all. A sandbox of creation, a blank slate for every artist and web designer to make their mark from within it.
This puts cryptocurrencies like Bitcoin and other cryptocurrencies in a strange position: many speculators see crypto as a means of getting rich, while others see cryptocurrency as a means to escape the rich. We’ve covered in a previous article about how unevenly distributed cryptocurrency actually is: Crypto Rich List
There’s something to be said about Jack getting blocked on a platform he used to rule with an iron banning fist…
What do you think? Is web 3.0 doomed to become another centralized corporate-owned domain, or are you more optimistic?