With Web3 touted as the next evolutionary stage of the internet, businesses and investors are eagerly hopping on the bandwagon. Tech giants including Alphabet, Facebook-owner Meta and Microsoft are staking their claim in the emerging blockchain-based economy, some non-fungible token companies are already valued in the billions, and cryptocurrency trading platforms are experiencing hockey stick-like growth.
To cut through the hype, CBS MoneyWatch spoke with tech luminary Tim O’Reilly, who among other things in his long career is known for publishing the world’s first website and coining the term Web 2.0. Although he thinks the technology behind Web3 is promising, “It’s a long way from prime time,” he said.
“It’s very hard to convince somebody of a thing when financial gains depend on them believing in it,” says tech luminary @TimOReilly, the publisher who coined the phrase Web 2.0, of web3 products like cryptocurrency and NFTs pic.twitter.com/i2pXR303hP
— Dan Patterson (@DanPatterson) February 7, 2022
www.cbsnews.com/news/cryptocurrency-nft-blockchain-web3-tim-oreilly/