The bitcoin and cryptocurrency community has this week been locked in a blazing row over the development of web3
... [+]Such corporate support has, however, put off Dorsey, who fears web3 will merely shift the current status quo sideways.."I’m anti-centralized, VC-owned, single point of failure, and corporate controlled lies. If your goal is anti establishment, I promise you it isn’t ethereum. Don’t believe or trust me! Just look at the fundamentals."
Dorsey—who left Twitter to begin working full time at his payments company Block, which includes Squareand Cash App—has this week heavily criticized what he sees as the investor-led development of web3 which is largely built on ethereum and other VC-backed blockchains. "I care only about decentralized, secure, private foundations without single points of failure," he added, implying bitcoin is the only cryptocurrency or blockchain that enables this.
Dorsey has clashed with well-known crypto investors and influencers this week, including former Coinbase chief technology officer Balaji Srinivasan and general partner at the venture capital firm Andreessen Horowitz Chris Dixon.
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