Jack Dorsey does not believe in the decentralized nature of Web 3.0 and expects Bitcoin to replace the dollar

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Jack Dorsey, co-founder and former CEO of Twitter and founder and CEO of Square (renamed Block), criticized Web 3.0 and said Bitcoin would replace the US dollar.

Dorsey answered a question from American rapper Cardi B, who won the prestigious Grammy awards. The singer asked if bitcoin could become a full-fledged replacement for the dollar. The Block CEO, known for his sincere love for the first cryptocurrency, replied succinctly, “Yes, it can.”

Yes, Bitcoin will

— jack⚡️ (@jack) December 21, 2021

Dorsey then questioned the value of Web 3.0. The new concept of the Internet, the basis of which is considered to be decentralization, the absence of a single body of control and censorship, according to him, has already been bought by venture capitalists: “You do not own Web 3.0. It belongs to venture capitalists and their partners. He will never escape them. In general, it is a centralized structure with a different name. ” The post garnered over 33,000 likes and attracted the attention of another well-known cryptocurrency enthusiast, Tesla CEO Elon Musk.

Musk asked if anyone had seen Web 3.0. To which Dorsey replied, “It’s somewhere between a and z,” hinting that Web 3.0 is under the control of the venture capital firm a16z, founded by Marc Andressen and Ben Horowitz.

Has anyone seen web3? I can’t find it.

— Elon Musk (@elonmusk) December 21, 2021

Chris Dixon, a16z partner, reacted to Dorsey’s tweet and admitted that he is a fan and hopes to “attract to Ethereum and other blockchains.” “Bitcoin is as beautiful as digital gold, but there are other important applications that require different chains,” Dixon wrote.

Dorsey responded by writing about the need to focus on secure technologies that truly belong to people and not to individuals and companies: “Only this framework will provide the applications you link to.”

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