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Jack Dorsey launches a decentralized social media platform: is it a competitor to Twitter?

Jack Dorsey declares war on Twitter with a Web3 alternative.

By Finst News
• 3 min read
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Jack Dorsey launches a decentralized social media platform: is it a competitor to Twitter?

Jack Dorsey declares war on Twitter with a Web3 alternative. It kicks off with a closed beta. What does the platform offer?

What was already coming is slowly becoming reality: Jack Dorsey is back. With Bluesky, the Twitter co-founder is releasing his new social media app. The project has been in development since 2019, and on March 1 of this year the closed beta launched, initially only in the App Store and by invitation. Sign up for the official launch via the website; in terms of interface Bluesky appears similar to its big predecessor. The crucial difference: the app relies entirely on Web3 features and must therefore address the sins of its spiritual predecessor.

Since stepping down from the board in 2022, Dorsey has been one of Twitter’s fiercest critics and a big Bitcoin enthusiast. Through Block, he leads one of the main companies in the Bitcoin space.

With 8,000 Bitcoin in his wallet, he’s the fifth-largest Bitcoin holder (currently valued at about $170 million). The company is developing Cash App, a popular Bitcoin payments network, and operates Bitcoin farms with Tesla. These miners run on renewable energy.

Jack Dorsey declares war on Twitter

According to Dorsey, social media has long been a threat to society: too much government control and censorship, too little user privacy, exploitative business models. For him, the only way out of this dilemma is decentralized protocols: "It can’t be about business. That’s why I left Twitter," he wrote in an leaked text message to his friend Elon Musk.

That’s where Bluesky comes in. Dorsey sees the platform aligned with other decentralized social apps like Nostr and Mastodon, which he’s a fan of. Not much is known yet about Bluesky. It’s part of an Authenticated Transfer (AT) protocol, an open standard. This should form the foundation for a network of the decentralized platform. Users will be able to switch easily between these services, their data remains protected, and there will be no censorship. When Bluesky officially launches is still unclear.

Read also: Twitter sits without employees

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