Elon Musk criticized the Web 3 technology
Despite the general enthusiasm for the new Web3 technology, Elon Musk expressed doubts and pointed out its shortcomings.
Elon Musk criticized Web3 technology, which former Y-Combinator president Sam Altman praised in his latest Twitter thread.
In the first conversation, the CEO of OpenAI said that he expects a decline in the average return on investments made in the 2020s, much worse than in the 2010s. But at the same time, Altman noted that Web3 technology could potentially bring investors the profits that the markets faced back in 2010.
Elon Musk hastened to criticize Altman's position, implying that Web3 will not be as revolutionary as investors and the general public expect. Moreover, he has already pointed out that the technology introduced for the general consumer will play a cruel joke on him. We have been observing the degradation of society for a long time, the departure of people from generally accepted values. Just imagine what would happen if, for a comfortable life, you only need to connect to the universal network every day and play the chosen role, but return to reality every evening and feel like nothing.
However, from a technical point of view, the technology deserves close attention, and it will not turn into a kind of dystopia soon.
"Web3 technology" is usually considered to be the creation and development of decentralized online ecosystems operating on a decentralized block chain. The technology allows you to create applications based on it that do not belong to anyone in particular.
Applications built on the principles of Web3 allow users to profit either from the development or from the support of these applications, services or solutions. The technology gained a large share of popularity after the decentralized finance industry began to grow exponentially.