Jack Dorsey Says Twitter Is Going on Blockchain

December 12, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Twitter will form and finance the BlueSky development team, which will create a decentralized standard for social networks. The news was announced on Wednesday by Twitter CEO Jack Dorsey.

According to Dorsey, the team will include up to five developers, and the technical director of Twitter Parag Agrawal will become the head of the initiative. Twitter CEO believes that the existence of such a standard is a critical factor in the existence of social networks. Dorsey recalls that when he founded the platform, it was “so open” that people thought it was destined to become a decentralized Internet standard. However, for a variety of reasons, each of which was justified in its time, Twitter chose a different path and became much more centralized.

Dorsey believes that the time has come to return to the initial concept, and expects that BlueSky will finalize one of the existing decentralized standards or develop its own from scratch. In the future, Twitter intends to become a client of this standard, and for now, it will work on open algorithms in order to promote “healthy discussions”.

CEO of Twitter expects that around the standard developed by his team, an entire open community will be formed, which will include companies and organizations, researchers and civil society leaders who share the values ​​of decentralization. Achieving this goal, he said, will require many years of hard work.

Previously, Dorsey founded the company Square, on the basis of which he assembled a team of developers involved in the development of an open Bitcoin ecosystem. Drawing a parallel between Square and BlueSky, he noted that Twitter as part of its new project will do for social networks what Square does for Bitcoin.

Author: Marko Vidrih