Inventor of the World Wide Web (WWW), Tim Berners-Lee, believes cryptocurrencies are dangerous while comparing crypto investment to gambling.
While speaking on CNBC’s “Beyond The Valley” podcast, Berners-Lee made these statements regarding his thoughts on crypto.
“It’s only speculative. Obviously, that’s really dangerous. [It’s] if you want to have a kick out of gambling, basically,” Berness-Lee stated about crypto.
He added, “Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time.”
Berners-Lee compared cryptocurrencies to the dot-com bubble that erupted in the late 1990s and early 2000s.
The most popular trend at the time was the proliferation of Internet-based businesses, and enormous amounts of money were directed toward them.
But, there was also a lot of high-level speculation, and many bettors lost money, which led to a significant drop in the hype.
Berners-Lee did add that if instantly translated into fiat currencies like the U.S. dollar or the euro, digital currencies might find utility in remittances.
The WWW inventor believes that the future of the internet is “Web 3.0,” which he distinguishes from Web3 as giving individuals control over their own data, including how it is viewed and stored.
Berners-Lee is no stranger to NFTs though. In July 2021, the NFT Of the original World Wide Web Source Code was sold for $ 5.4 million at Sotheby’s auction house. It also includes animated visualization of code, a digital poster, and a letter written by Berners-Lee.
