As Jack and Elon trash the ‘Web3’ concept, VCs courage to fight

A personal Twitter chat over whether ‘Web3’ would be something worth fighting for, or if it’s just a term coined by banking foreign investors as a way to make money, has surprised the crypto community today, with everyone from Dorsey to Elon and remarkable stock holders joining the Intertubes combat.

The discussion was sparked by a series of messages from Dorsey, the Founder of innovative installments firm Block and former Chairman of Twitter, in which he questioned the moniker Web3, claiming he had little to do with it.

The Twitter post appears to have been sparked by a Wall St Gazette piece published at the end of last week, in which Dorsey was mentioned as one of the most recognizable figures within a group of digital entrepreneurs aiming to change the world.

Whatever the story seemed to miss is that Jack does not see himself as a supporter of what some refer to as Create experiences, with the smart businessman and bitcoins (BTC) advocate instead implying that the name was coined by capitalists as a smarter way to generate revenue.

However, financial speculators retaliated quickly, with Chris Dixon, a general partner at risk capital behemoth Andreessen Horowitz (a16z), declaring that “all of the content, info, and sovereignty is an open-source software” on Web3.

However, the discussion seen between the two didn’t stop there, with Jack responding directly to a post from Dixon in which the latter stated that he believes the former Twitter Boss would eventually move away from being a Btc proponent and adopt Eth and other blockchains.

Meanwhile, Dorsey has taken yet another inconspicuous jab at the influence of capitalists like a16z. In response to Tesla Musk, a Web3 username.

Folks in the BTC and crypto communities reacted quickly to the statement from the former Head of Twitter – an organization that has received substantial amounts of money in budgetary presumptions over time – with Swan Bitcoin author Cory Klippsten suggesting that Dorsey understands that Web3 is a “massive tactic” by stockholders.

However, not everyone agreed with that viewpoint, with several arguing that excluding Web3 also means ignoring all of the other use cases that are present in the crypto realm beyond Bitcoin.

In the meanwhile, according to all reports, the debate about whether Web3 is a contract or Investor anomaly was far from the only dubious discussion Jack Dorsey engaged in today.

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