Dogecoin (DOGE) co-creator Jackson Palmer shared his thoughts on the unimportance of Web 3.0 and NFTs. Here are Palmer’s remarkable statements.
According to a new report shared by the Sydney Morning Herald, Dogecoin co-creator Palmer thinks Web 3.0, the newer, decentralized version of the internet, has actually found a solution to a ‘non-existent’ problem.
“I think web 3.0 acts like a hammer for a nail and doesn’t add any meaningful value to society.”
Sharing his views on NFTs by value as digital collectibles, Palmek thinks that the trend in the NFT world is used to attract more people to the crypto industry.
“Every two or three years a new narrative comes out. in 2009 bitcoin it would replace all those banks that were destroying you. Then, when that didn’t work a few years later, it was brought to the fore as a mere store of value, according to the narrative.
Then again, ICOs were everywhere, things like fundraising were democratized, and of course, the decentralized finance (DeFi) narrative, which I think is a complete hoax, has emerged recently. In addition NFTStories about s come up frequently and try to attract people to the crypto industry.”
The Australian-based source also stated that Palmer is of the opinion that promising decentralized protocols do not require blockchain technology or crypto assets to thrive.
“I am a big advocate of decentralization. I saw someone recently who is a decentralized social network creator very similar to Twitter. For example, does it need blockchain technology or cryptocurrency? Absolutely not!
The same goes for many peer-to-peer protocols. What crypto does is encourage adoption by making the product something people can speculate about, and that undermines much of its ability to serve most of these use cases. ”
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