Elon Musk Explains Why He Is “Pro Doge,” Entering the Web3 Debate with Jack Dorsey

Tesla CEO Elon Musk has joined in on the dispute sparked by Jack Dorsey about Web3 and decentralisation; Musk has once again cited Dogecoin as an alternative to Bitcoin and Web3.

Elon Musk just entered the discussion against Jack Dorsey in a twitter thread initiated by Farokh Sarmad, creator of Rug Radio, entrepreneur, and crypto punk (according to his Twitter bio). The topic is about Web3 technology, which includes Bitcoin and Ethereum. Musk concurs that Bitcoin empowers new wealthy individuals.

Elon Musk seems to concur with Dogecoin creator Billy Markus’s remark about Bitcoin granting power to just the affluent. Tesla CEO Elon Musk, the most prominent Dogecoin supporter, jumped in to add that this is precisely why he loves DOGE.

He has previously declared that DOGE is the “people’s cryptocurrency.” Previously, U.Today reported that Musk has previously criticised Web3, labelling it “BS,” implying that it may not be as revolutionary as investors and the broader public hoped.

Jack Dorsey criticises Ethereum as a method of corporation formation.

Earlier this week, Dorsey, the creator and former CEO of Twitter, blasted Web3 technology as something controlled by Silicon Valley venture capitalists and so centralised. Dorsey is a well-known Bitcoin advocate, advocating for the web’s decentralisation and innovative technology.

He verified this in the discussion above, replying to Farokh Sarmad and citing Ethereum. To begin, Jack denied being anti-ETH, stating that he is against to centralization and “VC-owned single points of failure and corporate-controlled falsehoods.”

Following that, he claimed that Ethereum is not anti-“establishment” and urged instead examining its principles rather than taking his word for it. As a result, he has once again set Bitcoin and Ethereum against one another.

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