WWW inventor says crypto is more similar to gambling

Tim Berners-Lee said that cryptocurrency investments are similar to gambling and he will never invest his time in this sector. 

Sir Timothy John Berners-Lee is also known as TimBL. He is an English computer scientist & popularly known as the inventor of the World Wide Web (WWW). WWW is a protocol that enables documents and other web resources to be accessed over the Internet.

On 20 Feb 2023, TimBL appeared in an interview with CNBC and there he talked about Cryptocurrencies and suggested people remain away from this speculative asset class. 

TimBL said that cryptocurrencies replicate gambling and he will surely never spend his time in this speculative asset class sector. 

“Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time,” www inventor said.

www inventor also said that the crypto sector is very dangerous similar to the 1990s Dot-com bubble, in which people lost their money because many internet-focused new startups collapsed badly but the companies which succeeded to survive are currently standing as giant leading companies in the world. Amazon, eBay, Facebook, and Google are few examples of those companies that survived in the Dot-com bubble and now these are multinational companies.

Further TimBL outlined a positive thing about cryptocurrencies and noted that digital assets can be used as a medium of money transactions. He said that we can use it somewhere in the payment system with the fiat conversion system and also suggested people convert crypto assets into fiat just after when you receive.

Earlier this, TimBL talked about Web3.0 and said that the next generation of www will be based on blockchain technology & decentralised nature. At that time, TimBL suggested people to remain away from the Web3 concept which arose from ETH tokens of Crypto sector.

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