FILE PHOTO: Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont, California, June 22, 2012, as the car company began delivering its Model S electric sedan. REUTERS/Noah Berger
(Reuters) - Billionaires Elon Musk and Jack Dorsey dismissed the so-called Web3 and criticized the involvement of venture capital firms such as Andreessen Horowitz in building out what some have called the next phase of the internet.
Web3, a vague term for a utopian version of the internet that is decentralized, is based on digital record-keeping technology blockchain, which also drives the platforms running cryptocurrencies such as bitcoin and ether.
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