Tim Berners-Lee, the creator of the World Wide Web, has warned against the use of cryptocurrency, describing it as “dangerous” and comparing it to gambling. Berners-Lee, who is widely credited with inventing the internet as we know it today, made the comments in a recent interview.
In the interview, Berners-Lee expressed concerns about the lack of regulation and oversight in the cryptocurrency market, as well as the potential for criminal activities such as money laundering and tax evasion. He also criticized the volatility of cryptocurrency prices, which he said made it a risky investment.
“Cryptocurrency is a dangerous thing. It’s like gambling,” Berners-Lee said. “It’s just out there in the wild west of the internet, and people are putting their money into it without really understanding what they’re getting into.”
Berners-Lee’s comments come at a time when cryptocurrency has become increasingly popular among investors, with the value of Bitcoin, the world’s most well-known cryptocurrency, surging to an all-time high in 2021. However, many experts have warned of the risks associated with investing in cryptocurrency, with some likening it to a speculative bubble that could burst at any moment.
Despite his concerns, Berners-Lee did acknowledge the potential benefits of blockchain technology, which is the underlying technology behind cryptocurrency. He suggested that blockchain could be used in a variety of applications, including secure voting systems and supply chain management.
Berners-Lee’s warning against cryptocurrency echoes similar statements made by other prominent figures in the tech industry, including Tesla CEO Elon Musk and Microsoft founder Bill Gates. Both have expressed concerns about the environmental impact of Bitcoin mining, which requires vast amounts of energy to power the computer systems that process transactions.
As the debate over cryptocurrency continues, Berners-Lee’s voice adds to the growing chorus of critics warning of the potential dangers of this new form of digital currency. While the technology behind cryptocurrency may hold promise, the risks associated with it are not to be taken lightly.