• Tim Berners-Lee, the creator of the World Wide Web, believes that crypto is „really dangerous“ and has compared it to the dot-com bubble.
• He sees some utility in digital currencies used for remittances but does not want to invest his time in them.
• He has also developed a decentralized version of the internet called „Web 3.0,“ which he argues is different from web3 as we know it.
Tim Berners-Lee’s View on Crypto
Tim Berners-Lee, the man behind the internet as we know it today, is of the belief that crypto is „really dangerous.“ The World Wide Web creator likened cryptocurrencies to gambling in a recent episode of CNBC’s Beyond the Valley podcast. He compared digital currencies to the dot-com bubble and their speculative natures.
Utility of Digital Currencies
However, Berners-Lee does see some utility in digital currencies that are used for remittances, as long as they are converted back into fiat currency immediately.
Web 3.0
As far as the web3 aspect of crypto is concerned, Tim Berners-Lee has his own version of a decentralized internet that gives people control over their personal data. This version is called „Web 3.0“, which, he argued, was different from web3 as we know it. At the Lisbon Web Summit in November 2022, he stated: „It’s a real shame, in fact, that the actual Web3 name was taken by Ethereum folks for the stuff that they’re doing with blockchain. In fact, Web3 is not the web at all.“ Tim Berners-Lee has dabbled around with some aspects of Web3 in the past; back in 2021 he converted the original code of WWW into an NFT (Non Fungible Token).
His Views on Investing
Tim Berners-Lee stated: “It’s only speculative… Investing in certain things which is purely speculative isn’t what where I want to spend my time.“ As such it seems clear he doesn’t believe investing should be done lightly and instead cautions against pure speculation when it comes to investments – especially those involving cryptocurrency or blockchain technology related projects and products .
Conclusion
In conclusion Tim Berners Lee does not believe investing lightly in speculation based products such as cryptocurrency and blockchain technology related items should be done without caution or thorough research prior to investing money or time into them – something many investors unfortunately do every day regardless if its crypto or traditional stocks/products being traded .