Cryptocurrency News

Facebook and Twitter will soon be obsolete thanks to blockchain technology

2022.08.23 09:26

Facebook and Twitter will soon be obsolete thanks to blockchain technology
Facebook and Twitter will soon be obsolete thanks to blockchain technology

Today’s social media landscape is dominated by Web2 corporations — mostly Meta (Facebook (NASDAQ:META)) and Twitter (NYSE:TWTR). The companies collect data from billions of users and collect billions of dollars in revenue from user-generated content. While it’s great for the corporations and their shareholders, it comes at a cost for average users and professional content creators.

But in the near future, decentralized social media — or Web3 — is likely to end that old model by giving power back to users.

Darius Moukhtarzadeh is a cryptocurrency entrepreneur focused on decentralized social- media applications. He previously worked as a researcher for Sygnum, the world’s first digital asset bank. He also worked for Ernst & Young in blockchain consultancy and for several startups in the Swiss Crypto Valley.

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