Jack Dorsey is an open supporter of the blockchain technology without a doubt. He recently travelled to Africa and commented on the fact that, according to him, Africa is the next big place for blockchain and cryptocurrencies.
Apart from that, the CEO of Twitter is thinking of moving the platform to blockchain. On December 11th, Dorsey announced that Twitter is funding a small team that will create a “decentralized standard for social media”. The end goal will be to move Twitter to the decentralized platform. Dorsey also tweeted his rationale behind the idea.
Dorsey believes that a more scalable solution is needed, as the centralization currently used for enforcing policies to address misinformation and abuse is going to stop working in the near future. Social media is more than ever promoting controversy and rage rather than peace and useful information.
According to Dorsey, blockchain will allow the easier dissemination of content, monetization and overall better governance of Twitter. However, the problem of putting Twitter to blockchain is the fact that the transition will be hard, especially considering the small team that is involved in developing the transition. The team is also not formed yet, but according to press, it will be called BlueSky and it will involve Twitter CEO Parag Agrawal to personally recruit the team members.
Another challenge will be the length of time and effort that it will take for the decentralization to take place.