Twitter Announces the Launch of 'Bluesky' Crypto Venture
Niko Pajkovic — August 17, 2021 — Business
Twitter has announced the appointment of web developer and crypto researcher Jay Graber as the head of its new 'Bluesky' business venture. The new venture will consist of a small team of researchers aiming to find or build a "decentralized social network protocol."
Jack Dorsey, the Chief Executive Officer of Twitter, said that the 'Blue Sky' initiative will "contribute to a much larger corpus of public conversation," as the company looks to focus its attention on creating recommendation algorithms that promote healthy, democratic conversation.
Though few details about the project have been revealed, it certainly represents an exciting development for the broader public considering Twitter -- one of the largest social media networks -- is making concerted efforts to return control of the social experience to its users via decentralized methods.
Image Credit: Shutterstock
Jack Dorsey, the Chief Executive Officer of Twitter, said that the 'Blue Sky' initiative will "contribute to a much larger corpus of public conversation," as the company looks to focus its attention on creating recommendation algorithms that promote healthy, democratic conversation.
Though few details about the project have been revealed, it certainly represents an exciting development for the broader public considering Twitter -- one of the largest social media networks -- is making concerted efforts to return control of the social experience to its users via decentralized methods.
Image Credit: Shutterstock
Trend Themes
1. Decentralized Social Networking - Companies can develop blockchain-based social networks, allowing users to have more control over their data and online experiences.
2. Crypto-based Ventures - More companies can build crypto ventures to provide a decentralized and secure digital infrastructure for users.
3. Cybersecurity in Social Media - With social media moving towards decentralization, there is an opportunity for cybersecurity companies to build solutions that protect these platforms.
Industry Implications
1. Social Media - Traditional social media companies can consider decentralized methods to give users more control over their data and the content they see.
2. Blockchain - The blockchain industry has an opportunity to develop decentralized social networking protocols.
3. Cybersecurity - With the rise of decentralized social media initiatives, cybersecurity companies can create solutions to protect users' online experiences.
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