Tesla CEO Elon Musk and Twitter founder JackDorsey -- two of the world's most famous tech billionaires -- have been voicing their thoughts this week on a hypothetical new iteration of the Internet: "Web3."

Although Web3 or Web3.0 is still a vague definition, it has been referred to by proponents as the distributed ledger of Internet blockchain technology version number. Blockchain is the technology behind many key digital currencies and irreplaceable currencies or NFT. Many entrepreneurs around the world are trying to design and build technologies and protocols that work with Web3.

After Web1 and Web2, proponents of Web3 argue that due to the manipulation of a few large and medium-sized Internet companies (such as Amazon), Apple, the initial name of Facebook parent Meta. These companies have accumulated vast amounts of shared data and specific content on the Internet.

In a tweet on Tiktok on Sunday about a 1995 Internet interview between Bill Gates and Peter Letterman, Musk asked, "What will happen in the future due to features that are currently largely unimaginable?"

He continues: "I'm not saying web3 really exists -- it seems more like a marketing buzzword than a reality right now -- just what will it be like in 10, 20, 30 years? 2051 looks like hard work!"

After Web1 and Web2, proponents of Web3 argue that due to the manipulation of a few large and medium-sized Internet companies (such as Amazon), Apple, the initial name of Facebook parent Meta. These companies have accumulated vast amounts of shared data and specific content on the Internet.

In a tweet on Tiktok on Sunday about a 1995 Internet interview between Bill Gates and Peter Letterman, Musk asked, "What will happen in the future due to features that are currently largely unimaginable?"

He continues: "I'm not saying web3 really exists -- it seems more like a marketing buzzword than a reality right now -- just what will it be like in 10, 20, 30 years? 2051 looks like hard work!"

A day later, Musk followed up: "Has anyone seen web3? Can't find it.

To the dismay of Web3 fans, Dorsey suggests that the venture capital firm Andresen Horowitz, which was an initial backer of Facebook and a promoter of Web3, is under the control of the firm.

"It's between a and z," said Dorsey, who stepped down as CEO of Twitterlast month to work on his new payments company Block, formerly Square.

Web3 backers ultimately want to see the power of the Internet in the hands of everyone, not venture capitalists. In their view, it is too important for a small number of companies or investors to manage the method.

Today, the Internet is particularly important to the world economy, playing a major role in powering everything from nuclear power plants to hospitals.

But in the end, Dorsey says, it will be VCS and limited partnerships that will own Web3. "It will never escape his encouragement," he tweeted, prompting a backlash from fans. "It ends up being a discrete physical line with different labels."

Its tweet received more than 26,500 likes and 5,900 shares in nine hours, with friends saying he was "wrong" or that they wouldn't allow it.

In a follow-up tweet later Tuesday, Dorsey went on to say that in his view, VCS are a problem, not people. The entrepreneur also shared an emoji about how VCS get rich from Web3.

Beyond the Internet, there is a big push by decentralized Finance (DeFi), led by digital currency entrepreneurs and currency enthusiasts such as bitcoin and Ethereum.

Similar changes are taking place in the energy industry. In the past, all electric energy was produced by a few companies and sold to the audience. Now some people have taken control of their own energy supply, making it more decentralized.