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‘You don’t own Web 3.0,’ says Jack Dorsey, criticizing its centralized nature By



© Reuters.

In a series of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of Twitter (NYSE:), 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 (NASDAQ:), joined Dorsey in the mockery. On an unrelated note, the same day, Dorsey replied, ” will” when asked if crypto will replace the dollar.

Within context, Web 3.0 is a decentralized version of the virtual world that will, in part, feature public blockchains, metaverse technology, nonfungible tokens and decentralized finance free from the grasp of centralized power sources, such as corporate servers.