Elon Musk, the chief executive officer of Tesla, has hinted at his support for Dogecoin’s “web69” token. “Wandrinstar,” a Dogecoin user, recently tweeted, “If Jack and Bitcoin can construct web5, then Dogecoin can create web69.” Former Twitter CEO and Block creator Jack Dorsey responded to Elon Musk’s tweet with “your move” while tagging him.
The Tesla CEO reacted with a fire emoji when asked about his thoughts on the decentralised web on Dogecoin or the “web69” notion. This seems to be acceptable to Dogecoin founder Billy Markus, better known as “Shibetoshi Nakamoto,” who tweeted, “I simply want to hang around on web69.”
“Are you still on web69? Peasant. I’m on web420, “The @WSB chairman responded with a joke. Markus said, “web420 and web69 are great bros, but the rest of the web stink.”
Jack Dorsey, the former CEO of Twitter, and Elon Musk, the current CEO of Tesla, have long had a distaste for web 3.0. In fact, Elon Musk never misses an occasion to criticise web3 technology.
Jack Dorsey suggested web5, perhaps his most significant contribution
Former Twitter CEO Jack Dorsey proposes an alternative to web3, which, according to him, has proved to be as cumbersome as web2 before it. Web5, which is believed to be a combination of web2 and web3, has the support of the author of Block. In contrast, Web5’s monetary layer will be based on Bitcoin.
Similar to past initiatives to establish a decentralised overlay on top of the web, web5 will seek to provide users with a “decentralised identity,” enabling them to move smoothly between applications without having to log in directly. Instead of storing user data with third-party goods and services, consumers will have control over it and it will not be disclosed without their consent.
On Twitter, Block inventor Jack Dorsey commented on the news, saying, “This will likely be our most significant Internet contribution. Honoured by the team. web5, (RIP web3 VCs).”
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