Twitter founder Jack Dorsey regrets playing a role in centralizing the internet


Twitter founder Jack Dorsey, a strong proponent of open and decentralized social media, regretted his involvement in creating a centralized internet.

In a tweet, Dorsey, who now focuses on Blockchain and cryptocurrencies through his financial services company Block (formerly Square), lamented the current state of the internet.

“The days of Usenet, irc, the web…even email (with PGP)…were amazing. The centralization of enterprise discovery and identity has really damaged the internet,” he said. he said in a tweet on Sunday evening.

“I realize that I am partly responsible and I regret it”.

Affirm CEO and co-founder Max Levchin responded to his tweet, saying the internet “went from arthouse to blockbuster because it needed to gain an audience and make money. “.

Dorsey then posted, “Perhaps a greater focus on protocol first and then interface would have helped. I agree there were fewer technology options to gain money. This has led to the dominance of advertising”.

In December last year, Dorsey said big venture capitalists, not users, actually owned the Web 3.0 movement, saying it was funds “determined to be a media empire that cannot be ignored… not Gandhi”.

Web3, also known as Web 3.0, is an idea for a new Internet that incorporates Blockchain-based decentralization.

“You don’t own web3. The VCs and their LPs (sponsors) do. It will never escape their inducements. It’s ultimately a centralized entity with a different label. Know what you’re getting yourself into,” had- he posted.

Dorsey is also building an open and fully decentralized bitcoin mining system, at a time when crypto mining has raised serious concerns about energy consumption and the generation of mega e-waste.



(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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