Web Inventor Slams Cryptocurrencies Over Their 'Speculative' Nature
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Feb. 20, 2023

Tim Berners-Lee, the creator of the World Wide Web, said in a recent episode of CNBC's "Beyond The Valley" that he sees cryptocurrencies as a "dangerous" asset due to their speculative nature.

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The computer scientist also compared cryptocurrencies to the dot-com bubble, saying he won't invest in "certain things" as they are "purely speculative." He added:

"It's only speculative. Obviously, that's really dangerous. [It's] if you want to have a kick out of gambling, basically. Investing in certain things, which is purely speculative, isn't what, where I want to spend my time."

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Berners-Lee, who's also known as the inventor of specifications for URIs, HTTP, and HTML, has been working on his new startup called Inrupt for the last couple of years.

However, the new venture, which is aimed at giving people control of their data, won't be using blockchain, Berners-Lee said, suggesting the technology isn't secure and fast enough for these purposes.

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