Social media giants are no longer opposing the power of decentralization and bitcoin technology. Instead, they are embracing it to solve the problems of a centralized Internet and put the power back in people’s hands.
Bitcoin Decentralization ‘could unload some of their burdens.’
Since Bitcoin’s inception, many in the financial and technology sectors saw Bitcoin and its blockchain technology as a threat. And, their first reaction was to oppose it vehemently.
Inevitably, however, the concept of a decentralized Internet triggered by Satoshi Nakamoto is now increasingly driving technological innovation in all industrial and financial sectors.
For example, social media giants such as Facebook and Twitter are no longer fighting the advent of cryptocurrencies and the idea of decentralization. On the contrary, to varying degrees, they are embracing it.
According to Nathaniel Popper, author of Digital Gold: A History of Bitcoin, these social media giants now intend to use decentralization to overcome some of their industries’…