“Web 3.0 is not blockchain-based,” Tim Berners-Lee, the inventor of the World Wide Web, said in a recent interview with CNBC’s “Beyond The Valley” podcast.
Berners-Lee is credited with inventing the World Wide Web in 1989, but he has been dissatisfied with how his original vision has panned out.
He is now looking to reshape the future of the internet through his start-up Inrupt, which aims to give people more control over their data. “We don’t get the value out of the web that we could. Our data is held in places that are not accessible to us and the utility of it is lost,” he said.
Berners-Lee and his co-founder John Bruce spoke to CNBC in a wide-ranging interview about the future of the internet.
While many people talk about the future of the internet in terms of Web3, a phrase with no clear meaning, Berners-Lee said that the future of the internet is “Web 3.0,” which is his own proposal for reshaping the internet.
He distinguishes Web 3.0 from Web3, which he said runs on blockchain technology and is a decentralized internet that takes power away from companies like Facebook and Google.
Berners-Lee said that Web 3.0 is not blockchain-based, as he believes the technology is not fast or secure enough.
He said that the future of the internet lies in enabling people to be creative and do things together, and that the internet should be decentralized and open. Berners-Lee’s vision for the future of the internet is based on creating a web that is interoperable, open, and decentralized, and that puts users in control of their data.
During the conversation Berners-Lee also called cryptocurrency “dangerous” and compared it to gambling.
Berners-Lee said that digital currencies are “only speculative” and compared them to the dot-com bubble. While he acknowledged that cryptocurrencies could be useful for remittances if they’re immediately converted back into fiat currency, he said that investing in purely speculative assets is not where he wants to spend his time.
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