Monday, October 24, 2022

Jack Dorsey (that Jack Dorsey) Is Building A Decentralized Twitter Killer (TWTR; @jack)

 From Sylvain Saurel's Medium site, October 24:

Jack Dorsey Unveils Bluesky Social, the Decentralized Twitter-Killer.
This ardent Bitcoin advocate presents us with a vision of Web3 that is very attractive to the end user.

The implementation of the next version of the Internet will seek its fundamentals in the Blockchain and the cryptocurrency world. With a supposedly decentralized operating model. But in a version that should not too simply become the next playground of venture capital structures. All of this is registered under the umbrella term of a Web3 that is still hard to pin down. And maybe already a new version of Twitter developed by its co-founder Jack Dorsey. Because Jack Dorsey has just officially announced the imminent launch of the beta version of the social network Bluesky.

Decentralization is not only a system developed to serve cryptocurrencies. It is above all a desire to protect private data while allowing it to escape the control of a single entity. A vision that is very dear to Jack Dorsey, co-founder of the social network Twitter and a great defender of Bitcoin. This is part of a very Web3 approach for this emblematic figure of Web2.

This is why Jack Dorsey has been working for 3 years now on building what he calls the “authenticated transfer protocol” or AT protocol. The latter is intended to offer its users portability of their accounts, but also the choice of algorithms they want to use and interoperability between different social networks. Because at the heart of this is a new kind of private data management.

Bluesky is a decentralized Twitter....

....MUCH MORE

For the last couple years I've gotten the impression that @jack was not happy with the way Twitter turned out. If so, good luck to all involved.

Bluesky (Blue Sky) has a very special meaning to securities attorneys that might not be applicable here.
In the first 48 hours after the announcement they signed-up 30,000 beta testers.