Not denying the benefits that virtual money can bring in areas such as money transfer, but Mr. Tim Berners-Lee said that this type of asset is only speculative.
Tim Berners-Lee, the inventor of the World Wide Web, thinks virtual currency is "dangerous" and likens it to a gamble.
When discussing the future of the web, Mr. Tim Berners-Lee said that cryptocurrencies are "just speculative" and are similar in nature to the "dot-com bubble" in which internet stocks (usually) doesn't have a good business model behind it) has been blown up.
“Virtual currencies are speculative in nature. Obviously it's really dangerous," Berners-Lee told CNBC. “Investing in something speculative is not something I want to spend my time with,” he added.
Still, Mr. Berners-Lee shared that digital currencies can be beneficial in terms of remittances if they are converted to fiat currency when it reaches the recipient.
Berners-Lee is credited with creating the World Wide Web in 1989. However, he has expressed dissatisfaction with his initial vision of the web after it was rolled out.
With John Bruce, Berners-Lee is looking to reshape the future of the internet through a startup called Inrupt. This startup aims to help people take control of their data.
Many advocates have talked about the future of the internet tied to Web3, a concept that currently has no clear definition, according to CNBC.
Some say that Web3 will run on the blockchain network. Therefore, Web3 will be like a decentralized internet and take away the power of technology giants like Facebook or Google.
However, Mr. Tim Berners-Lee said that the future of the internet will be "Web 3.0". “It's not blockchain,” he said, arguing that blockchain is not fast and secure enough. Earlier, Warren Buffett's "right-hand man", Charlie Munger also expressed a similar view, saying that the cryptocurrency advocate is just an idiot.