On Friday, Twitter and Square CEO Jack Dorsey said in a speech at the 2020 Oslo Freedom Forum that blockchain technology is the future of Twitter.
“Blockchain and Bitcoin point to a future and world where content will always exist,” Dorsey said. “We will no longer be in the content hosting business, but in the discovery business.”
In short, Dorsey hopes that the non-profit organization Blue Sky will create an open Twitter protocol where users can contribute and access data, rather than a centralized service where social media platforms host content on their websites.
“Blue Sky is a non-profit organization completely independent of Twitter,” Dorsey said.
“We will focus on becoming a Blue Sky customer in order to build a compelling service and business that anyone can access and anyone can contribute.”
He added that the non-profit organization is still seeking to recruit at least five roles, with the task of creating a public blockchain platform.
“In Bitcoin and blockchain, you see the most fundamental point,” Dorsey said, describing the shift from a centralized service provider to a diverse network of participants.
Dorsey spoke extensively about the importance of protecting user identities. In addition, Twitter staff are increasing reliance and machine learning tools to help identify untrue user behavior, that is, propaganda.
“I value the difference between anonymity and a pseudonym,” he said.
“A pseudonym is an established identity… we want to protect it,”
This was after the infamous Twitter hack in July 2020, when the platform suffered its worst attack in years.
In Florida, a 17-year-old hacker was tried on multiple fraud charges. He hacked into some of the world’s most famous accounts and demanded bitcoin payments.
Dorsey said: “Security cannot be achieved perfectly. It is an ongoing race.”
