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CEO of Twitter wants to implement the principles of Bitcoin and Blockchain

  • Twitter CEO Jack Dorsey announced that the mainstream social network will be the first to have an open source code.
  • Dorsey wants to set a precedent and implement Bitcoin’s transparency principles and Blockchain technology.

Twitter CEO Jack Dorsey has been a great promoter of the adoption of cryptocurrencies such as Bitcoin. Now he wants to make Twitter the first mainstream social network to implement a decentralization standard that is transparent, secure and scalable. This could set an important precedent.

One of the intrinsic principles of Bitcoin is transparency and freedom. Twitter is pointing to these principles and a freer internet by 2020.

Twitter the first social network to follow the Bitcoin standard

Dorsey made the announcement through his Twitter account. In a series of Tweets, he said the social network will create a technical team to make the transition from a centralized to an open source network. The team will be led by Twitter’s CTO Parag Agrawal and will be called Bluesky.

Dorsey wants to take Twitter back to its beginnings. According to the CEO of Twitter a decentralized network could face today’s problems:

For instance, centralized enforcement of global policy to address abuse and misleading information is unlikely to scale over the long-term without placing far too much burden on people.

In addition to the problem of disinformation, Dorsey wants to help create a platform that promotes healthy communication that forces Twitter to be a more innovative social network. To achieve this he pointed to the emergence of technologies such as blockchain:

(…) to make a decentralized approach more viable. Blockchain points to a series of decentralized solutions for open and durable hosting, governance, and even monetization.

Dorsey acknowledged that his proposal has many difficulties. However, he said that all stages of development will be transparent and will not have a single private owner.

We’d expect this team not only to develop a decentralized standard for social media, but to also build open community around it

Jack Dorsey and the future of Bitcoin

The payment company also presided over by Dorsey, Square has set out to promote the adoption of Bitcoin. He recently founded the Square Crypto branch and plans to develop a projector around the use of the BTC.

One of the developers of Square Crypto is the former Google director Steve Lee. About Square Crypto, Lee stated the following:

Our goal is Bitcoin for all. We are focusing on improving the Bitcoin experience for mainstream users.

In addition, CNF reported how the CEO of Twitter sees Africa as one of the most important regions for adoption. According to Dorsey the future of Bitcoin will be defined by what happens in Africa.

It remains to be seen whether Twitters project will succeed and whether it will make the social network one of the first to complete a transition to decentralization.

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About Author

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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