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Frank McCourt, a real estate billionaire, is funding a decentralized social networking project. Decentralizing social networking has been touted as a solution to the monopolistic powers of Big Tech.
“If you look at the way the internet developed with Web 2.0, you’ve got these massive data structures that are built by all of us behind proprietary enclosures: the global search index at Google, the global product index at Amazon, the global social graph at Facebook,” McCourt said, according to Fast Company. “The thought is these large data structures created by the public should be owned by no one; they should be public.”
The solution, according to McCourt, is building a “civic architecture” using blockchain technology, which he described as a “gift to humanity.” The blockchain, the technology behind Bitcoin and other crypto assets, […]
Read the rest of this story here: reclaimthenet.org
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