Sir Tim Berners-Lee, co-founder and chief technology officer of Inrupt, speaking at Web Summit 2022.
Sam Barnes | Sportsfile via Getty Images
LISBON, Portugal – The unsold web creator in crypto visionaries’ plans for its future and says we should “skip” it.
Tim Berners-Lee, the British computer scientist credited with inventing the World Wide Web in 1989, said on Friday that he does not see blockchain as a viable solution for building the next version. of the internet.
He has his own decentralized web project called Solid.
Berners-Lee, speaking on stage at the Web Summit event in Lisbon, said: “It is important to be clear to discuss the impact of new technology. “You have to understand what the terms we’re discussing really mean, beyond the buzzwords.”
“It’s a real shame that the name Web3 was actually taken by the Ethereum people for the things they’re doing with the blockchain. In fact, Web3 isn’t the web at all.”
Web3 is a confusing term in the tech world used to describe a hypothetical future version of the Internet that is more decentralized than it is today and is not dominated by a few powerful players like Amazon, Microsoft and Google.
It involves several technologies, including blockchain, cryptocurrencies, and unusable tokens.
While breaking our personal data out of Big Tech’s ring is an ambition shared by Berners-Lee, he doesn’t believe blockchain, the distributed ledger technology underpinning currencies electronics like bitcoin, would be the solution.
“Blockchain protocols can be good for some things but not so good for Solid,” he said. “They’re too slow, too expensive, and too public. Private data stores have to be fast, cheap, and private.”
“Web3 stuff aside, Random Web3 is built on the blockchain,” he added. “We don’t use it for Solid.”
Berners-Lee said people too often confuse Web3 with “Web 3.0,” his own proposal to reshape the internet. His new startup, Inrupt, aims to give users control over their own data, including how it is accessed and stored. The company raised $30 million in a funding round in December, TechCrunch reported.
Berners-Lee says that our personal data is intercepted by some Big Tech platforms, like Google and Facebook, which use it to “lock us into their platforms.”
“The result is a big data race, where the winner is the one company that controls the most data and the losers are everyone else,” he said.
His new startup aims to solve this problem through three ways:
- The global “single sign-on” feature allows anyone to sign in from anywhere.
- Login ID allows users to share their data with others.
- A “common common API”, or application programming interface, that allows applications to get data from any source.
Berners-Lee isn’t the only notable tech figure to have doubts about Web3. The movement has been a punching bag to some of the leaders in Silicon Valley, like Twitter Co-Founder Jack Dorsey and Tesla CEO Elon Musk.
Critics say it is prone to the same problems that come with cryptocurrencies, like fraud and security flaws.