Former MLB team owner recruited a developer to put his hands on the project. The main goal is to create a decentralized platform, open and registered on a blockchain.
Frank McCourt, an American magnate who used to be the owner of the Los Angeles Dodgers baseball team, allocated a $ 100 million investment to start developing a blockchain-based social network.
The project is called Project Liberty, and it focuses its efforts on creating a space where users can share their ideas and interact on different social networks so that they are registered on a blockchain that has not yet been determined.
The initiative was born as a way to restrain the power and monopoly of large companies in the sector, especially Facebook Inc, McCourt said. In addition, this new system could encourage “better behavior of people”, according to its promoter, since everyone would be connected to their content forever.
Braxton Woodham will be the developer in charge of the ambitious project. Braxton is the co-founder of the food delivery service Sun Basket and former chief technology officer of Fandango, a website that sold movie tickets.
In addition to hiring Woodham, McCourt invested $ 75 million in an institute at Georgetown University and Sciences Po in Paris to do intense research to know more about the implementation of this new technology. The rest of the USD allocated to the project will go to entrepreneurs who create projects based on this model, reports Bloomberg.
According to the data brought by the media, McCourt said that life is under constant surveillance, and this massive accumulation of wealth and power in the hands of a few is incredibly destabilizing. This threatens capitalism, which needs to have a certain inherent justice if it wants to stay afloat.
Project Liberty is certainly a Very Ambitious Project
Project Liberty’s main intention is to use a blockchain and develop the Decentralized Social Networking Protocol, a project that was originally introduced in 2011 by software developer Adrian Thurston and has been discarded. Like the original proposal document highlights, it is about building an open ecosystem in which all users can contribute with their content and create solid interactions.
The system’s ways to operate would be the same as that of cryptocurrencies. Just as the transaction information gets stored in a decentralized network that cannot suffer any alteration; the posts of each user in this new social network would also be recorded similarly.
This situation is precisely the opposite of what is happening nowadays with the most famous networks, whose servers gather data from billions of users around the world.
Frank McCourt is not the only enthusiast who relies on blockchain to create a “better internet experience in this world. Twitter founder Jack Dorsey has in the past highlighted his trust in bitcoin and new technologies for the subsistence and creation of innovative and more open social networks.
By: Jenson Nuñez