Charles Hoskinson, Ethereum co-founder, says he is interested in working with Twitter to create a transparent social media standard. Twitter and IOHK are now developing a project to achieve this goal. The project is in the pipeline, but the details are not yet available in the public domain. Hoskinson has offered to lend a hand in developing a standardized decentralized social media platform.
Dorsey reiterates his plan to build Bluesky as a decentralized social media standard
Dorsey is a great fan of Bitcoin. He has severally repeated his support for decentralized technology and has been looking towards adopting the decentralizing Twitter. I Dec. 2019, the Twitter CEO revealed his plan to launch Bluesky to serve as a decentralized social media standard. Meanwhile, the public is yet to get further details about the program.
However, Dorsey reaffirmed his resolve recently while explaining the recent development that led to the company’s suspension of President Donald Trump’s Twitter account. While Dorsey defended the firm’s decision that they acted with the reliable information they had because of a “threat to physical safety,” he admitted that the move had set a dangerous precedent for social media censorship and caused a division among people.
Dorsey further reiterated his profound interest in Bitcoin, noting that he acknowledges it as a fintech free of control or influence by any person or government. As such, Bitcoin can serve as a standard for Twitter’s social media decentralization plan.
Has Hoskinson revealed Cardano’s social media decentralization plan?
Hoskinson has not openly declared Cardano’s plans or steps to use for the execution of their plan. He only shared his intention while responding to Dorsey’s tweets. Hoskinson hinted to the Twitter CEO that Cardano is working on a program. He advised Dorsey against restricting his intended project to the member of his team alone. He urged him to make the program “an open-source project” to allow the blockchain industry to contribute its quota towards accomplishing its goals.
Cardano won’t be able to support smart contracts till the program reaches the Goguen phase. And this won’t happen until March. This is essential not only for blockchain apps as but also for social media. In essence, there is no Cardano social media program that investors should be expecting In the short term.
Due to the absence of other apps that Cardano could lay its hands-on, the company could launch a social media project as its trial for the blockchain program even if it is completed early. However, Cardano should be ready to slug it out with earlier blockchain-oriented social media programs like Hive, Peepeth, Block.one, among others.
Cardano is a cryptosystem and open source program that operates a blockchain platform for smart contracts. Its currency is known as ADA, while Charles Hoskinson founded the project. Cardano was launched fully in 2017, after birthing the idea in 2015.