Blockchain News

Twitter may see the deployment of its own Blockchain

There was an interesting discussion with the CEO of Twitter, Jack Dorsey, and the legal counsel Vijaya Gadde, on the Joe Rogan show. The discussion went through a range of topics like censorship, freedom of speech and the potential future of Twitters Blockchain.

In the discussion, Pool accused Twitter of being biased against conservatives and that the platform goes beyond just Twitters censorship.

Pool stated that:

“Me mentioning Chase, PayPal, MasterCard, terrifies me. People where having their bank accounts shut down after criticising the providers.”

He also mentioned that:

“There was a report with Big League Politics who said that after reporting on PayPal negatively, they banned him, thats terrifying. So i see these big tech monopolies, i see Youtube, Facebook, Twitter,PayPal, MasterCard, and they’re doing it (censoring) and they all say they’re doing the right thing. But all of these little things they’re doing are adding up to something nightmarish”

Twitter Vijaya

According to Dorsey, these companies are not doing the right thing and this is the “Cultural war” on the internet. However, this problem also covers areas like algorithmic biases as platforms like Twitter can have a massive influence on governments.

The basis for free money and freedom of speech

Many people are excited to see the Blockchain of Twitter according to Pool, but can the Blockchain implementation solve a lot of these complex issues?

Blockchain cryptocurrencies like Bitcoin and Ethereum solve some problems that centralised financial services like Paypal and MasterCard are withdrawn from.

One of the weaknesses in the crypto space, however, is the requirement to convert crypto back into fiat because there are not a lot of places crypto payments are accepted as of yet.

This has slowly been changing over the years however, with the gradual adoption of cryptocurrencies across the globe. But, it is arguably not at a level where you can live on Bitcoin without some considerable inconveniences.

Cryptocurrencies have become an option for centralised financial entities making them more cautious to the adoption of cryptocurrencies.

The Blockchain of Twitter

There are currently similar applications that are trying to do this like PeepEth for example, which is a kind of Twitter clone, that is trying to use the Blockchain for crypto economic incentives.

Another application is one called Minds, which has its own Ethereum based token that is used to incentivize, publishers and readers through some fairly complex crypto-economics.

Akasha is also a new social network that is trying to move in the direction of Twitter and Facebook and is also an attempt to create a new web3 platform. This platform is more decentralised than some other networks because it has its own node through which you can access the platform.

There are also a few projects that are creating a decentralised version of Google search engines.

However, most of these blockchain platforms are still in the very early stages of development and still require some refinement in order to get the convenience of centralised platforms, while using a decentralised architecture.

This will also stop the possibility of an individual being able to change someone else’s comment as was the case with Reddit’s co-founder.

Censorship has always been a problem in our society and with the introduction of the Blockchain technology, these borders are starting to break.

Blockchain provides more alternatives where non-coders and non-tech individuals can use these platforms to overcome censorship. This will be able to introduce a network effect and overcome inertia, this way tech giants can only achieve monopolies through consent.

However, there was no mention of ICO’s on the Joe Rogan show, as these platforms require resources in order to be developed.

If these resources should come primarily from Silicon Valley individuals who may have the same views, they might not want these innovative projects to go to market as VC’s might think that you just can’t take Twitter on or because they’re perhaps invested in Twitter themselves.

This is also good for the further development of Bitcoin because the more these centralised platforms and systems are kicked out. The more the number of decentralised system can work forward for a more freer future and society.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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