Cryptocurrency News Today – Headlines for December 12

Blockchain records
  • Jack Dorsey aims to make Twitter decentralized
  • Dorsey puts together a team to work on the decentralization of Twitter
  • The crypto community welcomes the decision of Dorsey

Cryptocurrency News Today – The CEO of Twitter and Square, Jack Dorsey, just revealed its plan to support an independent team of up to five open source architects, designers, and engineers to create a decentralized and open standard for Twitter. Dorsey is planning to make Twitter, one of the largest social media platform, decentralized.

Twitter CEO Plans for a Decentralized Twitter

Dorsey is putting together a team that would work on making Twitter decentralized. In a tweet, the CEO of Twitter said that ‘the goal is for Twitter to ultimately be a client of this standard.’

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In a series of tweets, Jack Dorsey said that creating a decentralized Twitter is not a day’s job and it might take a few years. This means that decentralized Twitter is a long-term goal. He also listed all the issues that the current social media platform is encountering, including hate speech, an algorithm that promotes content that is more controversial. In a tweet, Dorsey said:

finally, 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 be done, but the fundamentals are there.”

With the emergence of new technology, Twitter wants to solve all those issues and make the social media platform a place where healthier ideas can be promoted. Dorsey has won the heart of the digital currency community, as they welcomes his decision with open arms.

Crypto Community Welcomes the Decision of Dorsey

Changpeng Zhao – the CEO of Binance – replied the tweet of Dory in a positive way. In a tweet, CZ said:

“Social media, free speech, self/decentralized governance, protocol > platform blockchain.”

He approves the decision of Jack Dorsey. A partner and co-founder of Morgan Creek Digital – Anthony Pompliano – also appreciates the decision of Jack Dorsey. He also responded positively to one of Dorsey’s tweets. In the tweet, he said:

“Jack Dorsey may understand the future better than any entrepreneur on the planet right now.”

The vision of Dorsey for the future of social media is being appreciated in the tech world. Recently, the speech of Sacha Baron Cohen – a British actor – regarding regulating social media platforms went viral in which he blamed social media platforms such as Twitter and Facebook for spreading hate speech and extremist propaganda.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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