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Elon Musk is not in favor to bring Dogecoin into Web3

Elon Musk is not in favor to bring Dogecoin into Web3 19

Tesla CEO noted that there is no need to go with Web3-based development works for popular meme coin Doge.

Elon Musk is CEO of multiple tech companies like SpaceX, and Tesla. Tesla CEO is one of the biggest fans of Dogecoin and he is currently holding Bitcoin, Dogecoin, and Ethereum only. At present, he is on the way to purchasing Twitter to make it a much better social media platform. 

Recently Billy Markus, past Dogecoin co-creator, pointed out three major things to introduce in the Dogecoin ecosystem to increase its utility of Dogecoin. 

These major three proposals by Dogecoin co-creator are: 

  • businesses accepting doge  the more it can be used as a currency, the better
  •  using doge as a tipping currency is the purest use case that brings happiness 
  • dogecoin / Ethereum bridge allows doge to be used with web3

On these three points, Elon Musk responded and noted that the first two things are much better for Dogecoin but the third one is not better, that is Web3. 

Later, Billy responded to the Elon’ response tweet and admitted that Web3 will not overtake the web world as a big innovation but still have some utility cases for Dogecoin. 

“yeah – I see web3 as a developer playground which is why I support it, tho I also think it’s not named properly as I don’t think it’ll take over the web, I think it’s more just like “log into some things with your crypto wallet + track virtual goods”

Elon Musk against Web3 

Last year in December, Sam Altman, CEO of OpenAI tech intelligence firm, started a thread on Web3 and noted that Web3 has huge potential and it can bring huge innovations in the tech world more likely to 2010s. 

Elon responded to Sam’s tweet and wrote “Web3 sounds like BS” 

The majority of the crypto pundits and legend developers believe that Web3 is going to be a new trend in the crypto market and all these will bring new real use cases for the decentralized ecosystem of blockchain networks. But the response by Elon on Web3 seems not much better, from the point of view of a crypto lover’s personality.

Read also: Cardano aims to expand its NFTs support with Terra Virtua

Elon Musk is not in favor to bring Dogecoin into Web3





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