Elon Musk, the CEO of Tesla, has once again expressed interest in Dogecoin, teasing support for Dogecoin’s “web69.” “If Jack and Bitcoin can construct web5, then Dogecoin can create web69,” wrote a Dogecoin user named “Wandrinstar” in a recent tweet.
Elon Musk reacted with a fire emoji when asked about his thoughts on Dogecoin’s decentralized network or the “web69” concept.
“I only wanna hang out on web69” Dogecoin creator Billy Markus, also known as “Shibetoshi Nakamoto” joked about “web69” on Twitter.
“You’re still on web69, aren’t you? Peasant. I’m on web420 right now “In response, the chairman of the @WSB made a joke. “Web420 and web69 are bros,” Markus responded “all the other webs blow.”
When it comes to their hatred for web 3.0, former Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have always been in the same boat. In fact, Elon Musk never misses an occasion to criticize web3 technology.
Former Twitter CEO Jack Dorsey is proposing a replacement for web3, which he claims is just as inconvenient as web2 before it. Block’s developer has endorsed Web5, which is supposed to be a merger of web2 and web3. The monetary layer of Web5 will, on the other hand, be based on Bitcoin.
Web5 will seek to provide users a “decentralized identity,” allowing them to effortlessly go from application to application without having to explicitly log in, similar to past initiatives to establish a decentralized overlay on top of the web. Instead of being stored with third-party products and services, user data will be controlled by users and would not be disclosed without their consent.
On Twitter, Block inventor Jack Dorsey commented on the development, saying:
“This will likely be our most important contribution to the internet. Proud of the team. web5, (RIP web3 VCs).”
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