Coinbase CEO Brian Armstrong said that the decentralized social media is rising these days, and this began with Elon Musk’s takeover of Twitter.
During a recent interview with economic think-tank Milken Institute, Armstrong addressed the future of Twitter.
He shared his vision of what decentralized Twitter might look like if Musk were to turn the popular platform into a Web3-based application.
“I think generally, this is a good effort towards free speech. I think freedom in all forms is worth defending and crypto, a lot of it, is about economic freedom.”
He continued and said this:
“Freedom of speech is another version. I do think there’s an opportunity for Twitter to essentially embrace using a decentralized protocol and, just in the way that you’ve probably heard of DeFi, which is decentralized finance. There’s another one called DeSo, decentralized social media, which is another emerging area coming up.”
He also explained that “the data, the identity, the follower graphs have all become a public good, essentially, and have democratized access to that. And I think that’s one of the directions Twitter could go.”
Elon Musk buys Twitter
As you probably know by now, Elon Musk finally bought Twitter, and free speech haters are having a bad day today.
Musk, who made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock.
He also made sure to address various changes, from relaxing its content restrictions to eradicating fake accounts.
The firm initially rebuffed Musk’s bid, but it will now ask shareholders to vote to approve the deal.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement announcing the deal.
Stay tuned for more news, and make sure to keep your eyes on the crypto space.