Jack Dorsey, CEO of Twitter said on Wednesday that Twitter Inc. has decided to establish an independent research group for launching “open and decentralized” social network system.
This brings relief to the company as it was facing criticism for its content policies but this can also augment growth for competitor.
However, the system will not be owned by a single private company rather it would provide access to variety of services in the same network to its users. It is similar to seeing the same message from different email providers.
Enforcing speech on social media has always demanded heavy investments. Users often find the policies too lax or aggressive.
He said that centralized enforcement of policies to acknowledge misleading information and abuse globally will put a lot of burden over the people in the long-term.
The new approach will allow Twitter to promote healthy conversations with the help of open algorithms recommendation.
The company will be much more innovative than it was in the past. The new idea will allow developers to offer their algorithms to like-minded people so that they can target access to same social media networks.
To give an instance, a user can sign up to a provider to filter the racist material or some similar content that can promote conversation. The open standard will however, boost market growth for competitors who offer content suggestion, filter, or other tools.
Dorsey’s article highlights how developers will face model business competitions among themselves. This can lead to some providers charging less for ads or others to entirely forsake advertisement, instead charging for premium services such as data storage or filters to users.
Parag Agrawal, chief technology officer will be responsible for hiring research team lead for BlueSky which will be funded by Twitter. Blockchain technology will act as a model for decentralizing monetization, oversight, and content hosting for social media.