McCourt is funding research for Project Liberty, which aims to democratize social media through a blockchain database
Many have tried to reform the current social media model as it becomes increasingly centralized, with companies like Facebook amassing huge amounts of data in order to enter the market.
One group trying to revolutionize the industry is Project Liberty, which aims to decentralize and democratize social media using blockchain technology. Currently, users feel tied to certain social media apps as switching services would mean losing all connections, but Project Liberty will create a publicly accessible database of relationships that will give people the freedom to switch platforms at will .
Project Liberty got a boost yesterday with support from real estate mogul Frank McCourt. Known as the former owner of the LA Dodgers and the current owner of Olympique de Marseille, McCourt has just committed $ 100 million to Project Liberty.
“We live under constant surveillance, and what happens to this massive accumulation of wealth and power in the hands of a few is incredibly destabilizing.”McCourt explained. “It threatens capitalism because capitalism has to have some kind of fairness in it in order to survive. “
The answer, believe McCourt and Project Liberty, is blockchain technology. The project will build the Decentralized Social Networking Protocol (DSNP), a new infrastructure for the internet that stores our social connections on the blockchain.
Braxton Woodham, the former co-founder and CTO of the social media analytics platform Tap11, will be responsible for building DSNP. Three-quarters of McCourt’s $ 100 million pledge will be used to research the technology needed at Georgetown University in Washington DC and Sciences Po in Paris. The other $ 25 million will be used to convince entrepreneurs to build services that use the new database.
Project Liberty is not the first proposal to restructure social media through blockchain. Twitter CEO Jack Dorsey founded the Bluesky research team back in 2019, which aims to create an open and decentralized social media system in which users of different platforms can continue to connect with one another.
Dorsey stated on Twitter earlier this year: “The reason I have so much passion for Bitcoin is mainly because of the model it shows: a basic internet technology that is not controlled or influenced by any single person or entity. This is how the Internet wants to be, and over time it will become more of it. “