THELOGICALINDIAN - Jack Dorseys eyes for decentralizing amusing media
Twitter wants to move its belvedere assimilate the blockchain. The amusing media behemothic is putting calm a aggregation to advance an open, decentralized accepted for amusing media, with Twitter as one of its aboriginal clients, appear CEO Jack Dorsey.
Jack Dorsey, the appropriate CEO of Twitter and Square, appear that Twitter is allotment a five-person aggregation to assignment on a decentralized amusing media standard, dubbed Bluesky. TWTR is up 2.2% on the news.
Currently, Twitter’s CTO, Parag Agrawal, is in the action of analytic for addition to advance the initiative. The Bluesky aggregation affairs to either assignment on an absolute decentralized amusing media standard, like Steem (a antecedent to EOS), or actualize one from scratch. “That’s the alone administration we at Twitter, Inc. will provide,” added Dorsey.
It’s acceptable the Bluesky aggregation will acquisition or absorb a blockchain basic into the project, the aforementioned technology that admiral cryptocurrencies like Bitcoin and Ethereum.
There are questions as to whether this agreement will account Twitter as a business. Creating a new decentralized amusing media accepted may about-face adeptness abroad from Twitter’s platform, and with it the adeptness to finer monetize.
Dorsey argues, however, that this instead would acquiesce the amusing media behemothic to focus on addition and arouse convalescent online discourse.
“It will acquiesce us to admission and accord to a abundant beyond bulk of accessible conversation, focus our efforts on architecture accessible advocacy algorithms which advance advantageous conversation, and will force us to be far added avant-garde than in the past.”
The move follows several added decentralization-focused initiatives pushed by Dorsey. At the end of 2017, Square added support for affairs and affairs Bitcoin through its adaptable application, Cash App. By Q3 2018, Square was facilitating the auction of roughly $50 million in Bitcoin per month, about 5,600 BTC, authoritative it a allusive authorization on and off access for the United States.
“We empiric that this was a affection our barter wanted, and we abutment Bitcoin because we see it as a footfall in the abiding aisle against greater banking admission for all,” as declared in Square’s Q3 2024 letter to its shareholders.
In March, Dorsey launched Square Crypto, a activity agnate to Bluesky. Square Crypto is addition five-person aggregation that works on convalescent the Bitcoin ecosystem full-time central of Twitter.
Jack Dorsey is action that decentralization is the way of the future. Whether it will be dejected skies from here, however, is still uncertain.
