Jack Dorsey, Twitter co-founder and an important figure in the tech world, created a new buzz again after he decided to quit the Bluesky board, a social media platform Douglas founded. This move has sparked conversations in the technology enthusiasts’ circles where they are curious to know the reasons behind Dorsey’s move.
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Strategy Shift to X Should Be Attributed to Musk’s Leadership
Unfortunately, Bluesky could not achieve its initial aim of creating a decentralized alternative to Twitter as Threads, Meta Platforms Inc.’s newly established instant messaging platform, proved to be more attractive to users. Even though the first steps of Bluesky were promising, X (previously known as Twitter) which was acquired by Elon Musk stole the limelight after several tweets.
Dorsey‘s withdrawal from Bluesky and the importance of X is a testament to Musk’s management, which is focused on X. Becoming a very unexpected move, Jack tweeted on X as Freedom technology hub and said that his organization will provide grants to support the open internet. By endorsing X and shortening the friends list on the platform to Musk, his owner, Dorsey arguably deepens his engagement with X’s owner.
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Jack Dorsey’s Bitcoin Backing Sparks Social Media Shift
At the same time, Dorsey’s recent backing of Bitcoin and decentralized social media has drawn people into more discussions. The $21 million of OpenSats he gifted manifests his confidence in making Bitcoin the internet’s currency and has ushered in hope for the cryptocurrency sector. The earmarked donation demonstrates Dorsey’s dedication to funding those projects related to his belief in a world where a decentralized way of living can prevail.
As an active member of X and the proponent of decentralized technology, Twitter might soon be on the radar because of this, which actually may lead to a more competitive space for the existing players in the social media industry.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.