Venture Liberty, the initiative backed by actual property billionaire Frank McCourt aimed toward disrupting at present’s social media platforms, has discovered a house on Polkadot, the framework of parallel blockchains conceived by Ethereum co-founder Gavin Wooden.
Final 12 months, McCourt, a former proprietor of the Los Angeles Dodgers baseball group, earmarked $100 million to assault the present construction of social media, which he says is dogged by issues round information privateness and person manipulation that may’t be tackled by regulation.
The answer, in his opinion: an open-source, publicly owned infrastructure known as the Decentralized Social Networking Protocol (DSNP) to heart the web round folks as an alternative of big>particular auctions. Inside Polkadot’s parachain ecosystem, there exists a class of initiatives designed for the widespread good, which could finally embody Venture Liberty.
“Venture Liberty will seemingly launch as a typical parachain, at the very least initially,” mentioned Peter Mauric, head of public affairs at Parity Applied sciences. “There’s a chance for one thing like this, an excellent service for everybody within the Polkadot ecosystem and Web3 broadly, to be voted in by the neighborhood later as a common-good chain.”
Additionally additional down the road, a token hooked up to Venture Liberty is within the planning, Woodham mentioned. Particulars will comply with later this 12 months.
“The token is vital as a result of messaging is a useful resource and a token will likely be used to handle steady bandwidth sources for messaging and social media that’s scalable,” he mentioned. “We expect that’s going to be actually distinctive within the blockchain area.”
