Monday, March 4, 2024

Inventor Of Www Calls Cryptocurrency Dangerous And Considers It Like Gambling

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The inventor of World Wide Web, Tim Berners-Lee called cryptocurrency as dangerous and compared it to a gambling.

Berners-Lee said digital currencies are speculative in nature and compared them to the dot-com bubble.

Berners-Lee said, “It’s only speculative. Obviously, that’s really dangerous. It is if you want to have a kick out of gambling, basically. Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time.”

However, Berners-Lee said that digital currencies can be useful for remittances if they are immediately converted into fiat currency when they are received.

Along with John Bruce, Berners-Lee is aiming to reshape the future of the internet through his startup Inrupt; which aims to give people more control over their data.

Berners-Lee said, “The future of the internet is Web 3.0.”

Berners-Lee distinguishes Web 3.0 from Web3. Web 3.0 is Berners-Lee’s proposal for reshaping the internet.

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