Elon Musk is not convinced of Web3's existence
Recently, Elon Musk tweeted a short video clip showing an interview between Bill Gates and David Letterman in 1995.
Gates and Letterman discuss the internet in the clip and it's worth comparing today's state of affairs to Web3's.
A new internet called Web 3 is on the way. It's a decentralized, more open and efficient version of the current internet based on blockchain technology.
Web 3.0 is an internet of the future which will be underpinned by blockchain technology and native cryptocurrencies.
Instead of having powerful companies control your online experience, it will allow you to own and control your own data.
But as far as Musk is concerned, Web 3.0 “seems more like a marketing buzzword than a tangible reality right now.” He tweeted this idea over the weekend.
Many people think that Elon Musk is right in saying that web3 is, at the moment, little more than a buzzword. It might not be fully realized just yet.