{"id":384155,"date":"2021-12-21T20:15:27","date_gmt":"2021-12-21T17:15:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/you-dont-own-web-3-0-says-jack-dorsey-criticizing-its-centralized-nature\/"},"modified":"2021-12-21T20:15:27","modified_gmt":"2021-12-21T17:15:27","slug":"you-dont-own-web-3-0-says-jack-dorsey-criticizing-its-centralized-nature","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/you-dont-own-web-3-0-says-jack-dorsey-criticizing-its-centralized-nature\/","title":{"rendered":"# &#8216;You don&#8217;t own Web 3.0,&#8217; says Jack Dorsey, criticizing its centralized nature"},"content":{"rendered":"<p>&#8220;<strong># &#8216;You don&#8217;t own Web 3.0,&#8217; says Jack Dorsey, criticizing its centralized nature  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNjU2OGFhMzctNDg4NS00NWY1LTkzYjMtMGI3NTEyZjg3YjMxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, as well as the founder and CEO of Square (now Block), voiced his criticism over the direction of Web 3.0 development. Elon Musk, the CEO of Tesla, joined Dorsey in the mockery. On an unrelated note, the same day, Dorsey replied, &#8220;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jack\/status\/1473089482576564225\">Bitcoin will<\/a>&#8221;\u00a0when asked if crypto will replace the dollar.<\/p>\n<p>Within context, Web 3.0 is a decentralized version of the virtual world that will in part feature public blockchains, metaverse <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, nonfungible tokens and decentralized finance free from the grasp of centralized power sources, such as corporate servers.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">You don\u2019t own \u201cweb3.\u201d<\/p>\n<p>The VCs and their LPs do. It will never escape their incentives. It\u2019s ultimately a centralized entity with a different label. <\/p>\n<p>Know what you\u2019re getting into\u2026<\/p>\n<p>\u2014 jack\u26a1\ufe0f (@jack) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jack\/status\/1473139010197508098?ref_src=twsrc%5Etfw\">December 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nHowever, Dorsey took aim at the fact that venture capital firms, or VCs, and limited partnerships, also known as LPs, frequently fund Web 3.0 projects in direct competition with decentralized alternatives such as initial coin offerings. By owning a controlling stake, VCs and LPs can then pressure blockchain co-founders to comply with centralized regulations despite their conflict with core crypto philosophy, such as collecting know-your-customer data.<\/p>\n<p>Although he didn&#8217;t have much to add, Elon Musk commented that Web 3.0 projects haven&#8217;t really lived up to their name.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Has anyone seen web3? I can\u2019t find it.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1473165434518224896?ref_src=twsrc%5Etfw\">December 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Related:\u00a0<em>Indian state government to accredit Web 2.0 and Web 3.0 blockchain startups<\/em><\/strong><\/p>\n<p>According to a report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/pitchbook.com\/news\/reports\/q3-2021-emerging-tech-research-fintech\">by<\/a> PitchBook, fintech firms received $88.3 billion in aggregate funding from venture capital through the first three quarters of 2021, almost double the 2020 total of $44.9 billion. The report also highlighted the growing mainstream acceptance of cryptocurrencies as one potential growth driver, especially as more institutions look to access digital assets.<\/p>\n<p>As for Dorsey, the former Twitter CEO <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be much more vocal about his intent to contribute to the Bitcoin (BTC) economy since stepping down from the social media company in November. As Cointelegraph previously reported, Dorsey plans on building a decentralized exchange for Bitcoin\u00a0that will make it easier to fund a non-custodial wallet.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/you-don-t-own-web-3-0-says-jack-dorsey-criticizing-its-centralized-nature\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;You don&#8217;t own Web 3.0,&#8217; says Jack Dorsey, criticizing its centralized nature &#8221; In a series of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of Twitter, as well as the founder and CEO of Square (now Block), voiced his criticism over the direction of Web 3.0 development. Elon Musk, the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":384156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNjU2OGFhMzctNDg4NS00NWY1LTkzYjMtMGI3NTEyZjg3YjMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,75719,91498,93542,74355,39394,73952],"class_list":["post-384155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-funding","tag-metaverse","tag-web3","tag-adoption","tag-elon-musk","tag-jack-dorsey"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/384155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=384155"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/384155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/384156"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=384155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=384155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=384155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}