Social media revolution: Blockchain is the future of Twitter

Blockchain technology is not only revolutionizing the financial system, there is also a strong shift towards decentralization in the area of ​​social media. Twitter CEO Jack Dorsey cannot imagine the future of Twitter without blockchain.

On Friday, September 25th, Twitter CEO Jack Dorsey announced more detailed information on future business plans for the social media platform. given. In his speech at the Virtual Oslo Freedom Forum the avowed Bitcoin fan emphasized that blockchain technology will play a central role in the future of Twitter.

Blockchain and Bitcoin enable a world in which content will exist forever. We’re no longer in the content hosting business, we’re in the discovery business

The charitable organization Blue Sky is held responsible for this. This will create a public blockchain protocol. All users should be authorized to contribute to this protocol and all data will be made publicly available. This is in stark contrast to the centralized Twitter that we know today: At the moment, the social media platform only hosts content on its homepage.

Dorsey mentioned that the nonprofit wants to hire at least 5 more people to create the public blockchain.

76.4% of retail investor accounts lose money when trading CFDs with this provider [advertisement].

Blue Sky is a Twitter independent company focused on becoming a Twitter client. They want to offer a “convincing service” that everyone can access and to which everyone can contribute

This shift towards decentralization is best seen in networks like Bitcoin and other blockchain protocols. These networks no longer consist of centralized service providers, but rather many different participants of the same rank. That puts power and responsibility in the hands of the individual and collective.

For an open discourse, it is of the utmost importance to secure the identity of the users of decentralized networks. In order to counter bots and propaganda, Twitter is increasingly concentrating on the use of machine learning technologies.

The Twitter CEO also emphasized the difference between anonymity and pseudonymity, also known as a stage name or alias. One wants to „definitely protect“ an established identity on Twitter.

Network security will always be a race: a game of cat and mouse. The more responsibility you can ascribe to the individual, the more secure the network will ultimately be, says Jack Dorsey. In this way one wants to prevent attacks like in July this year by all means. Here, a 17-year-old hacker gained access to prominent Twitter accounts and used their names to lure the ignorant into the trap with fake giveaways.