Jack Dorsey Disses Ethereum, Web3 In Twitter Rampage

Twitter ex-CEO Jack Dorsey has admittedly never been a fan of Ethereum and has been quite open about his stance on the cryptocurrency. Dorsey has always been a Bitcoin maximalist through and through, showing support for the pioneer cryptocurrency at every turn. Even going as far as stepping down as Twitter CEO to focus more on Block, a venture which focuses solely on building with bitcoin.

Despite being vocal about not being a supporter of ethereum, Dorsey does get asked a fair bit what he thinks about the asset and the blockchain as a whole. It’s one of these instances that led Dorsey to once again show that he does not support the digital asset.

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Dorsey Does Not Support Ethereum

With Dorsey focusing all of his energy on building with bitcoin, others have brought up the possibility of the Block CEO integrating other blockchains into his work. A Twitter user by the name of cdixon once again posed the possibility of the CEO to work with ethereum and other blockchains, stating that there were other applications of cryptocurrencies that would require other chains.

Dorsey had responded to the tweet with a clear and concise tweet. The tweet, once again, leaned greatly towards support for bitcoin as the CEO explained that only secure and resilient technologies should be used, alluding to the centralized nature of the ethereum blockchain.

“I believe in you and your ability to understand systems. It’s critical we focus our energy on truly secure and resilient technologies owned by the mass of people, not individuals or institutions. Only that foundation will provide for the applications you allude to.”

ETH price falls below $4,000 | Source: ETHUSD on TradingView.com

Coming For Web3

Dorsey’s tirade against centralized systems did not end with the ethereum blockchain. Web3, the new baby of the innovative technology space, also drew criticism from the CEO. He tweeted saying that users did not actually own web3. Instead, that it belonged to the VCs and the LPs who are currently investing heavily in the space. Alluding to the fact that the incentives of these VCs and LPs will always impact it.

You don’t own “web3.”

The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.

Know what you’re getting into…

— jack⚡️ (@jack) December 21, 2021

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The tweet itself had drawn criticism from those involved in the web3 space who poured out to counter the views of the CEO.

Dorsey went on to further mock the technology alongside SpaceX CEO Elon Musk. Joining the discussion, Musk had tweeted saying, “Has anyone seen web3? I can’t find it.” To which Dorsey had mockingly replied that “It’s somewhere between a and z.”

Featured image from Ripples Nigeria, chart from TradingView.com