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 companies comparable to Andreessen Horowitz who’re investing tens of millions in crypto corporations and the way they aren’t 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 at all times felt so…darkish pic.twitter.com/82hFvTd7fO
— jack⚡️ (@jack) December 22, 2021
Whereas many crypto startups working onerous in direction of net 3.0 didn’t take the feedback of their stride and Dorsey got here out to clarify 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 combat in opposition to the “wealthy dudes” benefiting 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 give up because the CEO to deal with Bitcoin completely by his common Bitcoin enterprise Square Inc. The previous Twitter CEO is a well known Bitcoin proponent who has stated it himself up to now that he would finally give up Twitter to focus full-time on growing Bitcoin-based open-source merchandise.
Former Twitter CEO wages battle 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 every other 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 every other cryptocurrency than Bitcoin. Nonetheless, he has cleared that he’s not essentially a Bitcoin maximalist as he’s extra targeted on decentralization.
I’m not anti ETH. I’m anti-centralized, VC-owned, single level of failure, and company managed lies. In case your objective is anti institution, I promise you it isn’t ethereum. Don’t imagine or belief me! Simply take a look at the basics.
— jack⚡️ (@jack) December 23, 2021
Jack Dorsey-led Sq. Inc. is at the moment engaged on a variety of Bitcoin-centered merchandise comparable to a decentralized change system, constructing a Defi ecosystem, and an open-source {hardware} pockets as effectively.
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