Crypto-Mastermind summary:

  • Twitter-CEO Jack Dorsey again praised the decentralized nature of the blockchain, especially Bitcoin. He sees the technology as the future of Twitter, social media and the Internet.

  • The platform is to become a client of the independent company BlueSky, which will create a public blockchain-protocol. Data can be added by any user and is public.

  • Dorsey sees the blockchain-technology as a security factor. He thinks that the more responsibility lies with the individual, the more secure the entire network is.

Blockchain-technology and decentralization are becoming increasingly relevant factors, not only for the monetary system. The Twitter-CEO, Jack Dorsey, already advocated cryptocurrencies such as Bitcoin in earlier times. At the Virtual Oslo Freedom Forum, Dorsey announced detailed information on the business plans for Twitter. He said, that blockchain-technology would play a central role in the future of the social media platform.

Blockchain-technology as a model for free Internet

According to Dorsey, Bitcoin’s system is a model for the Internet of the future. Each individual user of equal rank is to have more control over the platform, instead of a central group. He praises the decentralized function and easy accessibility of the cryptocurrencies, whose characteristics he sees as a condition for the structure of a free Internet:

„You see this most fundamentally in Bitcoin and in blockchain. The keys will be more and more in the hands of the individual.”

The project is to be implemented by the „BlueSky“ team. Open source architects, designers and engineers have joined forces in this independent company. The team will be responsible for developing a decentralized standard for social networks.

Dorsey goes on to explain that BlueSky sees Bitcoin technology as a model for preventing the centralization of information. The goal is to provide a secure system that is free from centralized censorship. He says:

„Blockchain and Bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it … The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet.”

Twitter is to become a client of BlueSky, Dorsey said. The team should create a public blockchain protocol for this purpose. Users will be given the permission to add to the protocol and all data will be public. BlueSky will also be expanded to include five engineers and several other supporters.


CEO sees more security through decentralization

Another important factor is the security of the system. In a decentralized network it would be important to secure the identity of the users. The Twitter-CEO says, that the more responsibility lies with the individual, the more secure the entire network will be.

Dorsey wants to rely on machine learning technologies to contain bots and spam. Pseudo-identities and stage names are also to be protected. He wants to make the system particularly secure against hackers and describes the situation as a continuous race:

„I fundamentally believe that security is something that can never be perfected. It’s a constant race. It’s a constant push to be ten steps ahead of hackers.”

In July this year, for example, hackers gained access to prominent Twitter accounts such as Elon Musk, Joe Biden and Kim Kardashian. The hackers lured unsuspecting people with fraudulent crypto-giveaways. The Twitter-CEO sees blockchain-technology as a great opportunity to strengthen the security of the system.

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