Jack Dorsey, co-founder of Twitter exclaimed that the company meets none of the standards that he hoped to achieve. He further stated that social media sites should be owned by multiple people and not just one.
Dorsey has been constantly keeping a watch on the way Elon is transforming the most used microblogging site – Twitter.
Recently, he wrote a lengthy blog after the new CEO Elon Musk published Twitter Files. He stated in the blog the way the company must be run and maintained. He claimed that issues that have risen in the platform came after Elon took over the company.
He mentioned three principles that he wished to achieve which are related to censorship, moderation, and outside control, claiming that the company currently meets none of them.
“The only way I know of to truly live up to these three principles is a free and open protocol for social media, that is not owned by a single company or group of companies, and is resilient to corporate and government influences,” he wrote.
“Which ultimately puts one person in charge of what’s available and seen, or not. This is by definition a single point of failure, no matter how great the person, and over time will fracture the public conversation, and may lead to more control by governments and corporations around the world.”
The tech billionaire went on to assert that the answer was “something akin to what bitcoin has shown to be possible” through its power to be decentralized and censorship resistant.
He pointed out a number of competing social media projects that match this free and open standard better than Twitter, including Bluesky, Matrix and Mastodon.
“This isn’t about a ‘decentralised Twitter’,” he wrote. “This is a focused and urgent push for a foundational core technology standard to make social media a native part of the internet.
“I believe this is critical both to Twitter’s future, and the public conversation’s ability to truly serve the people, which helps hold governments and corporations accountable.”
Mr. Dorsey, who resigned as CEO of Twitter in November 2021, still possesses a 2.4 percent stake in the corporation observing Elon Musk’s takeover in October 2022.
He promised to pay $1 million to the Signal app and further said that he would keep funding and equity grants to engineering teams working on “social media and private communication protocols, bitcoin, and a web-only mobile OS”.
In a tweet, Dorsey, who currently focuses on Blockchain and cryptocurrencies via his monetary services corporation Block, lamented the existing condition of the Internet.
“The days of usenet, irc, the web…even email (w PGP)…were amazing. centralizing discovery and identity into corporations really damaged the internet,” he said in a tweet late on Sunday.