More

    Jack Dorsey is Building an Open Source and Decentralized Twitter

    • Twitter is funding an independent team of 5 called Bluesky
    • A decentralized step towards supporting and fostering the values of a free and open Internet

    Twitter and Square CEO Jack Dorsey has taken another step towards building a decentralized standard for social media.

    Bitcoin believer took to Twitter to announce his plans for an open-source Twitter for which the social media giant is funding a small independent team of up to five architects, engineers, and designers dubbed Bluesky.

    A Decentralized Standard for Social Media

    Dorsey reminiscences about the time when Twitter started which was so open that “many saw its potential to be a decentralized internet standard.”

    Due to a variety of reasons, Twitter took the “centralized” path but now such solutions are struggling to meet the new challenges the company is facing.

    He further notes that the value of social media is shifting away from content hosting and towards “recommendation algorithm.”

    Also, the fact that content and conversation that sparks outrage and controversy have become the center of attention instead of those that “informs and promotes health” is another issue pushing Dorsey towards building a decentralized platform. New technologies meanwhile have made a decentralized approach “more viable.” Dorsey said,

    “Blockchain points to a series of decentralized solutions for open and durable hosting, governance, and even monetization. Much work to be done, but the fundamentals are there.”

    Dorsey has already taken a step towards decentralization with Square, which is doing the same for Bitcoin with Square Crypto.

    Now, for a decentralized Twitter, the company has yet to make a decision if they want to go with an existing decentralized standard or create one from scratch.

    However, it won’t be happening overnight rather will take many years to develop “a sound, scalable, and usable decentralized standard” that will allow the company to be more innovative and build an open recommendation algorithm for healthy conversations.

    Also, it will have its own share of challenges and as such, it won’t be owned by a single corporation, “furthering the open & decentralized principles of the internet.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,264FansLike
    2,735FollowersFollow
    4,093FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Money Is At Risk In Banks, Bitcoin Is Probably The Most Secure Currency Right Now: Tim Draper

    “If we're able to hold above $7,800, it will be a very good sign,” - Mati Greenspan Venture Capitalist advises millennial's to start...

    XRPL Labs Founder Wietse Wind's XRP TipBot Banned On Twitter, A Sign To Come For Tipping Bots?

    On January 24, Twitter decided to disrupt the XRP community by banning the XRP Tip Bot account, which is a service developed by the...

    Litecoin Founder Charlie Lee Proposes 1% Block Reward Funding Plan To Rake in $1.5 Million

    Proposal for donating 1% of block rewards to generate $1.5 million per year It’s like paying for your kid’s college and “securing your...

    Travala Expands Its Crypto Payments Options By Adding NEM's XEM Token

    Travel platform Travala, a firm that allows its customers to pay for hotel accommodations using digital currencies, has partnered with the NEM Foundation to...

    Elon Musk Thinks Crypto Could Be a Replacement for Cash

    Billionaire, SpaceX and Tesla CEO Elon Musk is also known for his cryptic tweets on crypto and Bitcoin (BTC), but on January 20, he...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.