Twitter is Going Decentralized with Blockchain

Twitter wants to move its platform onto the blockchain. The social media giant is putting together a team to develop an open, decentralized standard for social media, with Twitter as one of its first clients, announced CEO Jack Dorsey.

Jack Dorsey, the idiosyncratic CEO of Twitter and Square, announced that Twitter is funding a five-person team to work on a decentralized social media standard, dubbed Bluesky. TWTR is up 2.2% on the news.

Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard.