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BlueSky, a group of open source developers backed by Twitter, provided an update on the progress of the project on Jan. 21, indicating that it has taken steps towards creating a decentralized social media platform.
- BlueSky was first announced in Dec. 2019, with the goal of creating a set of open and decentralized standards, of which Twitter would ‘eventually’ be a client
- The small team behind BlueSky said that they had spoken to “diverse group from different parts of the decentralization community to a virtual forum”
- The BlueSky team also created an ecosystem review of protocols related to social media
- Dorsey is very well known for his support of Bitcoin and cryptocurrencies, calling BTC the money of the internet -- in fact, his Twitter bio now only reads ‘Bitcoin’
- Dorsey’s support for cryptocurrencies goes beyond Bitcoin, with the Twitter co-founder having praised the possibilities that come with decentralization
- On Jan 14, he tweeted that he was a strong supporter of Bitcoin because it represented “a foundational internet technology that is not controlled or influenced by any single individual or entity”
- Square, of which he is CEO, is also heavily strategizing around Bitcoin, having reached record high BTC revenues in 2020 and investing $50 million into the asset
