The cryptocrypto community weighed into the social media censorship debate on Wednesday after President Donald Trump was fact-checked on Twitter.
Ethereum co-founder Vitalik Buterin retweeted President Trump’s comment about Twitter “stifling” free speech, writing, “In the long run I'm pessimistic about the ability of centralized social media platforms to stay highly independent of the political environment of the country they're centered in.”
He added: “This only further shows why we need an alternative.”
In the long run I'm pessimistic about the ability of centralized social media platforms to stay highly independent of the political environment of the country they're centered in.
But Buterin said that he didn’t think Twitter was censoring Trump—rather that he was worried “about selective outrage being used to threaten Twitter's independence.”
“Putting a warning label beside potentially dangerous content is like, exactly the thing that libertarians actively promote as an alternative to outright banning it.” he wrote. “So I'm definitely not going to criticize twitter for experimenting with such things.”
Buterin’s tweet comes after President Trump said Tuesday that ballots received through mail-in voting methods would be “anything less than substantially fraudulent.” The president wrote on Twitter that mail boxes “will be robbed, ballots will be forged and even illegally printed out and fraudulently signed” in November’s Presidential election.
Twitter then posted a label under the tweet, offering facts about mail-in ballots—hinting that what President Trump had said was misleading.
Trump responded by writing that Twitter was “interfering in the 2020 Presidential Election” and “completely stifling free speech.”
The big tech censorship debate has become more heated recently as YouTube removed comments which criticize China’s Communist Party and Google deleted millions of negative TikTok reviews after the app's ratings fell to an all-time low.
Buterin’s call for “alternatives” comes at a time when decentralized platforms are gaining in popularity. Gab—a “free speech social network” that wants to rival Twitter—recently decentralized its network, and has grown in users. But the platform has been criticized for allowing anyone, even white nationalists and the alt-right, to speak freely.
With gatekeepers increasingly policing coronavirus content, discontent with legacy social media platforms is festering online. Is now the time for decentralized and uncensorable alternatives to finally get traction in the mainstream? Tyler Winklevoss thinks so—and he's willing to put some money on it.
“A central party should not play referee,” Winklevoss told Decrypt. ”Rules should be made by a platform's community of creators and users, not a small group of executives cloistered in Silicon Vall...
Meanwhile, crypto-based social media platform Minds is also reportedly growing its user base, particularly in Thailand. The company’s CEO, Bill Ottman, told Decrypt that it is difficult for big tech to avoid bias.
“In terms of 'fact-checking' warnings, the approach of most big tech has been to hand select orgs and mainstream media to do this job, which is clearly subject to bias,” he wrote in an email.
“It doesn't leverage at all the massive community of experts on both the left and right that they have.”
According to Ottman, the issue extends beyond just Twitter, and finding a solution may come down to a fundamental shift in the way users interact with content-creation platforms.
“The other day, YouTube apologized for censoring anti-Chinese communist party comments due to unintelligent filters,” said Ottman. “If the largest tech companies in the world are this inept, perhaps it should be obvious the whole strategy of dictating truth and acceptable discourse is off base."
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Digital asset platform Bakkt Holdings has notified the U.S. SEC of its plans to sell up to $1 billion in securities to provide fresh capital for a possible expansion of its corporate treasury to include Bitcoin.
Bakkt's S-3 filing on Thursday creates a $1 billion pool of potential securities, including common stock, preferred stock, debt securities, warrants, and bundled stock units, which could be tapped whenever market conditions become favorable.
Backed by Intercontinental Exchange, the platf...
Bitcoin treasury firm Metaplanet has amassed an additional 1,234 Bitcoin worth nearly $132 million, based on the current price, marking its third-largest BTC buy to date, according to a disclosure released by the firm on Thursday.
The Japan-based firm purchased the Bitcoins for 15,617,281 yen per token, or around $108,129 at the current conversation rate, the filing shows. The purchase date remains unclear.
This latest acquisition brings Metaplanet’s Bitcoin holdings to 12,345 BTC, worth more th...
A Tether co-founder and former Blackstone dealmaker are aiming to raise $1 billion to build a digital asset treasury for a company they aim to take public, according to a Bloomberg report.
The duo, ex-Blackstone executive Chinh Chu and stablecoin titan Reeve Collins, will raise the capital through their special-purpose acquisition company M-3 Brigade Acquisition V Corp., the publication reported Wednesday, citing sources familiar with the matter. The firm’s treasury would hold several digital as...