Jack Dorsey started a debate on Twitter about the Web 3.0 and took on the crypto celebrities.
In the crypto space, Jack Dorsey is considered a bitcoin advocate. No wonder, the Block (formerly Square) CEO has been trying for years to push ahead with the adoption of the cryptocurrency. For this mission, the 45-year-old even announced his retirement from the Twitter boardroom. Via his short message service, the American has now initiated a fundamental debate that divides the minds within the scene.
It all started with one TweetJack Dorsey dropped off on Tuesday, December 21st. In it he wrote that the vision of “Web 3.0”, a decentralized Internet that is owned by users, was a hoax.
You don’t own Web 3.0. It belongs to the VCs [Risikokapitalgesellschaften] and their LPs [Kommanditgesellschaften]. It will never be able to escape their influence. Ultimately, it remains a centralized entity only under a different label.
Know what you are getting yourself into.
Jack Dorsey on Twitter
He then followed well-known venture capitalists on the crypto scene. Underneath Coinbase CEO Brian Armstrong, Gemini founder Tyler Winklevoss and Marc Andreessen. The latter took the action as an opportunity to block Dorsey on Twitter for his part.
Dorsey also criticizes Ethereum
The Twitter founder joins the group of critics who consider the term Web 3.0 to be a pure marketing campaign. Dorsey himself does not believe in the narrative of decentralization. In his eyes, many projects are just about keeping their venture capital firms happy.
In this context, the American also attacked the Ethereum network, which stands for the Web 3.0 vision like no other. Dorsey made fun of the distribution between small and large investors with a cartoon.
Suddenly, the Twitter founder found himself confronted with criticism. On social media, users accused him of being a bitcoin maximalist who failed to see the true potential of Web 3.0. Dorsey then stated:
I am not anti-ETH. I’m anti-centralization, VC dependency, single point of failure, and company-controlled lies.
Jack Dorsey on Twitter
The debate is far from over. Jack Dorsey continues to shoot hard against the crypto celebrities on Twitter – especially Andreessen Horowitz. After Marc Andreessen blocked the 45-year-old, the block CEO wrote: “Now I am officially excluded from Web 3.0”.