Updated on January 9, 2023 12:50 PM
The long-awaited Twitter acquisition finally happened. And Elon Musk is officially the “Chief Twit.” Although, the journey was a bit dramatic. And the audience was sitting back and watching with their glasses on.
The real journey for Twitter’s future starts now. Musk has often mentioned the importance of decentralization. And we hope Musk has that vision for the Twitter cause that the audience expects!
A decentralized Twitter can give rise to a new gen of internet which is what we need! That will forever change the relationship and how users interact with social platforms. Facebook, Instagram, and other social platforms control user data. They sell your data to companies to run targeted ads and earn money. With a decentralized platform, users can finally own their data.
The chats between Jack Dorsey and Elon Musk show how eager the former CEO is to make Twitter a decentralized entity rather than a centralized company. He believes Twitter can provide much more utility if developed as an open-source protocol like Signal. Dorsey believes Twitter can become a more useable platform if it learns from email. Like in email, users can message one another on the same thread yet write emails on different application platforms like Outlook, Gmail, and more.
A decentralized Twitter will allow users to be in charge of their data. Users will have the ability to consent to the use of their data by apps and connections.
One of the biggest problems the entire Web 3 industry faces is providing a good user experience. And solving this issue isn’t as easy. The technology is new and fresh. To maximize onboard users on a decentralized platform, they have to be user-friendly.
Privacy is a myth in the modern world.
Only some social data is indeed public. Often, the social giants keep messages, posts, and a person’s connections private. At least, it can be viewed only by authorized people. Or maybe not?
Twitter stores its data on its own and Facebook’s servers. And to bring decentralization to the table, the hunt is to keep the data encrypted on an open web to make it impossible to decrypt it. This certainly has its disadvantages. But that is how Dorsey, Musk, and many Web3 enthusiasts look.
Ads are considered a dirty subject on social platforms. And people have genuine reasons for the same. The fact that only 10% or even fewer people are willing to pay a premium to use social platforms makes it impossible for companies to earn. And that lefts them with no other option than to sell user data to show ads.
Most social platforms track even the slightest user activity, like the pages they visit, their interests, hobbies, and whatnot! And decentralizing the complete user experience is what we need.
Decentralized platforms are just getting started. For them to succeed, they need to level up their user experience. If you believe in Musk, he can rebuild Twitter to give a decentralized experience we all need in this centralized world.