Twitter to Develop a Decentralized Standard for Social Networks
Representatives of Twitter are interested in creating a decentralized social network, the company has already begun to finance a team that will work on this. CEO Jack Dorsey believes that centralized solutions are no longer able to cope with the current problems of social networks, for example with the dissemination of fake information. “New technologies have emerged to make a decentralized approach more viable. 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 wrote. The company still does not know whether they will independently develop the blockchain from scratch or find a ready product. The head of the company is confident that his team can create a new standard for social networks. Also, Dorsey has no doubt that Twitter is one of the first to perform a decentralized solution. Note that Jack Dorsey has repeatedly expressed his interest in cryptocurrencies and blockchain technology.