Tim Berners-Lee, the inventor of the World Wide Web, recently became vocal about his criticism of cryptocurrencies, dubbing them ‘dangerous’ and linking them to gambling.
In the latest episode of CNBC’s “Beyond The Valley” podcast published last Feb. 17, Berners highlighted the risk of sudden collapse associated with cryptocurrencies, which he views as nothing more than highly speculative investments.
Berners also compared them to the dot-com bubble, where superficial market growth inflated internet companies’ valuations beyond their fundamental value:
The internet is like a teenager going through an awkward phase, constantly evolving and trying to figure out who it wants to be.
And now, there’s a new contender in the ring: Web 3. A blockchain-based internet that promises to take down big tech behemoths like Google. Sounds pretty neat, right?
Berner is not a fan of this whole blockchain craze. In fact, he thinks it’s slower and about as secure as a house made of cards.
His goal with Web 3.0? Putting the power back in the hands of the people with more control over their data. So, who’s it gonna be – the flashy new kid on the block or the wise old sage with a revolutionary plan? Only time (and a few billion lines of code) will tell.
The startup, called Inrupt, plans to provide web users with a single login that can be used across different websites.
But that’s not all – they also want to store each user’s personal data in digital “pods.” These pods will grant websites access to some or all of the individual’s information, from their shopping preferences to their sleeping patterns. In short, it’s a one-stop shop for all your personal data!
Once these pods become a reality, Tim envisions an AI-powered chatbot called “Charlie,” which will work as a digital personal assistant.
And here’s the kicker – Charlie won’t be linked to big tech. It will legally work for its user, just like an agent or a lawyer. This means you can trust Charlie with all your data, and it will use the pods to provide you with personalized and insightful recommendations.
Tim believes that since Charlie will have access to all your personal data, including your collaborations, coffees, projects, and dreams, it will be able to provide much more comprehensive insights than other virtual assistants like Amazon’s Alexa and Apple’s Siri.