Cardano’s Hoskinson Stresses on Web3 Social Platforms Over “Unsustainable” Centralized Models

Cardano’s Hoskinson Stresses on Web3 Social Platforms Over “Unsustainable” Centralized Models

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The co-founder of Cardano Charles Hoskinson called for more development around web3 social media platforms rather than dependence on centralized platforms.

In a Feb 19 Ask Me Anything (AMA) session with his followers, the Cardano executive answered questions on diverse issues ranging from politics to cryptocurrencies.

Surprise AMA 02/19/2024

— Charles Hoskinson (@IOHK_Charles) February 19, 2024

One particular user asked about how “fickle Twitter has become,” and if Hoskinson is considering other alternatives like Bluesky.

In his response, Hoskinson noted that he is done with centralized social media because of the risks it poses adding that the team will figure out a solution to the problem.

Although Hoskinson praised Elon Musk for his stance on free speech, he stressed that it may not be absolute. This is because of the level of control a control one man or company can have on the process.

I like Elon Musk, today he has a commitment to freedom of speech and expression. I’m not naïve enough to believe that it’s absolute. I’m not naïve enough to believe I’m always going to be on the right side. But the problem is that you live or die by whether he gets up on the left or right side of the bed.” 

Hoskinson Wants Free AI Companies

Drawing examples from Meta and YouTube, he added that their models are unsustainable for free speech because of centralization.

With the advent of Artificial Intelligence (AI), the argument becomes deepened as the government fears the extent to which technology companies will swing.

Hoskinson highlighted that although governments do not want AI to create harmful things to society like nuclear weapons, they stretch these to politics.

This can impede free speech as some large technology companies “lean in one political direction. On the flip side, Hoskinson stated that the industry has a blueprint for decentralized social platforms with efforts made towards that purpose.

However, as important as this is, his team lacks the time and resources. In the future, the team will bring it to the fore by adopting several strategies. These include writing a series of papers on foundational concerns, user experiences, and management

Like Hoskinson, Crypto Users Back Web3 Platforms

In recent years, centralized social media has come under fire for its lack of freedoms and use of public data sparking privacy concerns.

Reacting to this, digital asset users have tipped decentralized institutions as the key to unlocking numerous benefits.

Decentralized platforms like Farcaster offer an ad-free environment with users gifting tokens for content to build community engagement.

This form of social networking and iteration of the web gives power to the users in many ways. They offer users absolute control of the governing mechanism and their data getting rid of centralized bodies.

Ethereum co-founder Vitalik Buterin hailed the development of Farcaster in recent weeks for web3 users.

feels like it’s gotten to the point where it’s quite usable as a Twitter alternative for lots of people. The channels thing actually makes it *better* in many ways imo. That said, spam is increasing; I think dealing with that well is the next challenge.”

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