Popular Dogecoin proponent, Elon Musk, criticized Web3 development and said that “Web3 sounds like BS”.
In the present time, crypto made it possible for the whole world to trade with the crypto assets globally instead of remaining limited with the assets in a particular country e.g Stock and share market.
The Crypto industry is trying at best to evolve with a new revolution. Twitter is trying to make the whole internet social media fully decentralized by using the concept of web3.0. And almost all crypto tech entrepreneurs believe that it will work at its best to give better results to the world in the future.
Elon Musk is known as a big tech lover, who is doing at his level to push technology adoption to the next level. But his statement on web3 is controversial.
Sam Altman, CEO of OpenAI tech intelligence firm and former Y Combinator president, started a thread on Twitter about the internet technology revolution and its return on venture capital investments.
According to Sam, the internet grabbed huge success in the 2010s but the next 10 years were not expected to give better results, however, they are giving.
Further, Sam said that the future will not remain better as over the last decades results but Web3 will surely give better results over the venture capital investments.
On this, Elon Musk responded and wrote “Web3 sounds like bs”
This is a highly controversial statement by Elon Musk over the web3 revolution concept. However, most of the crypto proponents dismissed the opinion of Elon on Web3.
In the past, Elon passed many controversial statements. Once he tweeted that the US government should not regulate cryptocurrencies. However, few people said that Elon Musk is trying to say that the US government is not doing better work over crypto, instead, they are trying to bust the crypto industry.
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