Twitter founder Jack Dorsey, a staunch supporter of open and decentralised social media, has expressed regret for his role in the creation of a centralised Internet.
Dorsey, who now focuses on Blockchain and cryptocurrencies through his financial services company Block (previously Square), lamented the current state of the Internet in a tweet.
“The days of usenet, irc, the web…even email (w PGP)…were amazing. centralizing discovery and identity into corporations really damaged the internet,” he said in a tweet late on Sunday.
“I realize I’m partially to blame, and regret it”.
In response to his tweet, Affirm CEO and co-founder Max Levchin stated that the Internet “shifted from arthouse to blockbuster because it needed to gain an audience and make money.”
Dorsey then wrote: “Perhaps a greater emphasis on protocol first, then interface, would have been beneficial. However, I agree that there were fewer technological options for making money. As a result, advertising has come to dominate “..
Dorsey stated in December of last year that big venture capital firms, not users, own the Web 3.0 movement, claiming that these are funds “determined to be a media empire that can’t be ignored… not Gandhi”.
Web3, also known as Web 3.0, is a concept for a new Internet that incorporates Blockchain-based decentralisation.
“You don’t own web3. The VCs and their LPs (limited partners) do. It will never escape their incentives. It’s ultimately a centralised entity with a different label. Know what you’re getting into,” he had posted.
Dorsey is also developing an open and fully decentralised Bitcoin mining system at a time when cryptocurrency mining has raised serious concerns about energy consumption and mega e-waste generation.