Elon Musk, CEO of electrical automobile maker Tesla, reiterated in his newest tweet that Web 3 is not actual in any respect, and that it appears to be “more marketing buzz than reality right now.” However, the billionaire tech evangelist believes the idea might change into a actuality, and the complete potential of Web 3 might be unlocked within the close to future by 2051.
Musk posted a clip of angel investor Jason Calacanis to Twitter, which exhibits an earlier interview with David Letterman of Bill Gates. In the interview, Gates defined the idea of the Internet (referring to Web1), saying that it permits customers to entry content material at any time. Calacanis agrees with Gates as a result of the Internet permits anybody to publish something with out gatekeeping.
I’m not suggesting that Web 3 is actual – there’s extra advertising buzz than actuality proper now – simply questioning what the longer term will likely be like in 10, 20 or 30 years. 2051 appears loopy futuristic!
— Elon Musk (@elonmusk) December 20, 2021
For the non-beginner, Web 3.0 or Web3 refers back to the subsequent technology of the World Wide Web, to be derived from Web 2.0, which is extra centralized and targeted on user-generated content material.
Web3 is meant to be a extra decentralized internet that challenges the dominance of tech giants by concentrating energy and information within the fingers of customers fairly than giant tech firms. This implies that the info is distributed throughout the community and no single entity owns the knowledge, though this concept may be very tough to execute.
The improvement comes after Musk introduced, early final week, that Tesla would settle for Dogecoin for items on a trial foundation. “Tesla will make some merchant buyables with Doge and see how it goes,” she stated in a tweet.
Tesla sells merchandise corresponding to attire, belt buckles, mini fashions of its automobiles, the ‘Cyberquad’ quad bike for youths and the ‘Cyberwhistle’ modeled after its much-anticipated Cybertruck.
Responding to a Twitter thread a number of weeks in the past, Musk stated that Web3 “feels like BS”. Musk revealed his views commenting on a Twitter thread by American entrepreneur and investor Sam Altman, who instructed that Web3 might “still have returns like 2010” and cautioned in opposition to anticipating extra. His stance was that the return on funding in Web3 wouldn’t be a lot totally different from the returns made within the 2010s.
It ought to be famous that there’s a lot of labor to be achieved to put the muse for Web3 – which implies customers, builders, tech corporations and others should come to an settlement on how the Web3 protocol will work. Only when this work is underway, and when monetary incentives align behind it, will Web3 start to change into actual.
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With inputs from TheIndianEXPRESS
