The inventor of World Wide Web, Tim Berners-Lee called cryptocurrency as dangerous and compared it to a gambling.
Berners-Lee said digital currencies are speculative in nature and compared them to the dot-com bubble.
Berners-Lee said, “It’s only speculative. Obviously, that’s really dangerous. It is if you want to have a kick out of gambling, basically. Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time.”
However, Berners-Lee said that digital currencies can be useful for remittances if they are immediately converted into fiat currency when they are received.
Along with John Bruce, Berners-Lee is aiming to reshape the future of the internet through his startup Inrupt; which aims to give people more control over their data.
Berners-Lee said, “The future of the internet is Web 3.0.”
Berners-Lee distinguishes Web 3.0 from Web3. Web 3.0 is Berners-Lee’s proposal for reshaping the internet.