Elon Musk Criticizes Web3 Technology – Bitcoin Magazine

Elon Musk criticized Web3 – which was praised most of the time by former Y-Combinator President Sam Altman topic His latest Twitter.

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In the original thread, the OpenAI CEO said the average return on investment will be much lower in the 2020s than it was in the 2010s.

The world’s richest billionaire Elon Musk has criticized Altman’s view by saying that “Web3 technology looks like bs,” implying it won’t be as revolutionary as investors and the public have predicted.

“Web3 technology” is often viewed as the creation and development of distributed online ecosystems that run on a decentralized blockchain. This technology makes it possible to create applications on it that do not belong to any specific object.

Applications created according to Web3 principles enable users to benefit from the development or maintenance of such applications, services or solutions. This technology gained popularity after the decentralized financial industry began to grow exponentially.

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