Sir Tim Berners-Lee, Co-Founder and Chief Technology Officer of Inrupt, speaking at Web Summit 2022.
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LISBON, PORTUGAL — The creators of the web are unconvinced by the future plans of crypto visionaries and say they should be “ignored.”
British computer scientist Tim Berners-Lee, who is credited with inventing the World Wide Web in 1989, said Friday he sees blockchain as a viable solution to building the next iteration of the Internet. said no.
He has his own web decentralization project called Solid.
Berners-Lee said on stage at the Web Summit event in Lisbon. “Beyond buzzwords, we need to understand what the terms we’re discussing really mean.”
“It’s a real shame that the actual Web3 name was taken because of what Ethereum folks are doing with the blockchain. In fact, Web3 is not a web at all.”
Web3 is a loose term in the tech world, used to describe a hypothetical future version of the internet that will be more decentralized than it is today and not dominated by a handful of powerful players such as increase. Amazon, microsoft When Google.
This includes several technologies such as blockchain, cryptocurrencies, and non-fungible tokens.
Freeing our personal data from the hands of Big Tech is an ambition shared by Berners Lee, but I am not convinced that blockchain, the distributed ledger technology that underpins cryptocurrencies such as Bitcoin, is the answer. Is not …
A web-distributed project led by Berners-Lee, “Blockchain protocols may be good in some ways, but they are not good for solids.” They are too slow, too expensive, and too public. A personal data store should be fast, cheap, and private.”
“Ignore Web3 things like random Web3 built on blockchain,” he added. “Not used for solids.”
Berners-Lee said that too often people confuse Web3 with “Web 3.0.” His new startup, Inrupt, aims to give users control over their data, including how it is accessed and stored. The company raised $30 million in his December funding round. TechCrunch reported.
Berners-Lee says our personal data is siled by a handful of big tech platforms such as Google and Facebook and used to “lock us to their platforms.”
“The result is a big data race where the winner is the one company managing the most data and the loser is the other company,” he said.
His new startup aims to address this in three ways.
- Global “single sign-on” functionality that allows anyone to log in from anywhere.
- A login ID that allows users to share their data with others.
- A “common universal API” or application programming interface that allows apps to retrieve data from any source.
Critics say it is prone to the same problems that come with cryptocurrencies, including fraud and security flaws.