Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Elon Musk Believes Web 3.0 Today 'More Marketing Buzzword' Than Reality

Elon Musk Believes Web 3.0 Today 'More Marketing Buzzword' Than Reality

Web 3.0 (or Web3) is the upcoming third generation of the Internet likely based on blockchain technology, in which websites and apps will be able to process information almost like a human, using technologies such as machine learning, big data, decentralized ledger technology, and others.

Eccentric entrepreneur and technology pioneer Elon Musk took to Twitter on Monday to contemplate the past and the future of one of the greatest inventions in the history of mankind - yes, the Internet.

Musk posted a TikTok of a 1995 discussion between Bill Gates and David Letterman, and asked rhetorically, "Given the almost unimaginable nature of the present, what will the future be?"

In the short video cut from his guest appearance on the show to promote his new book and the then pinnacle of software technology, Windows 95, Gates introduces the Internet to Letterman, which was new and odd to most people at the time.

After watching the clip, the TikTok user who recalled the interview connects Gates' and Letterman's conversation to "what’s happening now with Web3."


Musk, on the other hand, expressed an opinion that it is too early to call the concept real, in an apparent response to the blogger in a TikTok.

"I’m not suggesting web3 is real – seems more marketing buzzword than reality right now – just wondering what the future will be like in 10, 20 or 30 years. 2051 sounds crazy futuristic!" Musk wrote in a subsequent post.

Currently, the Web 3.0 concept is based on the idea of a decentralized internet based on blockchain technology, which is used to power nonfungible tokens (NFTs) and cryptocurrencies such as bitcoin.

The concept's supporters believe that today's internet is dominated by a few giant corporations, such as Amazon, Apple, Alphabet, and Facebook (now Meta).

Instead, Web3 allows consumers to control their own data with a little help from machines.

And many people in the comment section, like the creator of Dogecoin, the cryptocurrency most favored by the billionaire, agreed with Musk, because Web 3.0 is still in its early stages. Some believe it is not sufficiently developed yet to be regarded as fully real.


Others, at the same time, noted the need to move towards the development of Web 3.0 in order to reduce the dependence of users on Big Tech. And some looked at the future through memes.



However, the advocates of the concept's future do have a different perspective on Web 3.0's current state. They believe that the so-called Decentralized financial, or DeFi, applications, decentralized autonomous organizations, or DAOs, and the NFT space all show signs of Web3.

But many computer scientists warn that as of today, there are still way too many unknowns to sift through in order to build a totally decentralized, seamless version of the internet in the way it will likely be in the future.

And in the same 1995 interview with Letterman, computer pioneer Gates predicted the heyday of artificial intelligence technology, but admitted at that time that he had no idea how to make the leap to advance in that field, although he noted that the thought of an intelligent computer was a "very scary thought."


26 years later, Gates is still considered one of the prophets of the development of computer technology, but more and more recently he has noted that the further development of AI is both "promising and dangerous" for mankind.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×