Billionaire Frank McCourt's Project Liberty Takes on Social Media Giants with Ethereum Partnership

November 20, 2024
Billionaire Frank McCourt's Project Liberty Takes on Social Media Giants with Ethereum Partnership
  • Bluesky has recently experienced significant growth, surpassing 20 million users, which reflects a broader trend towards decentralized social media options.

  • McCourt emphasizes the need for a universal social graph that allows individuals to control their own data, moving away from the restrictive 'walled gardens' of current social media platforms.

  • Project Liberty, spearheaded by billionaire Frank McCourt, is on a mission to create a decentralized social media platform, collaborating with Consensys to integrate with Ethereum's ecosystem.

  • The initiative seeks to reduce consumer reliance on major social media giants like X (formerly Twitter) and Meta's Facebook, addressing the growing dissatisfaction among users that has driven them towards alternatives like Bluesky.

  • Project Liberty's vision extends beyond just a new platform; it aims to create a fairer internet that is free from surveillance capitalism, aligning with the core principles of Web3.

  • This partnership aims to enhance Project Liberty's Frequency blockchain by making it compatible with Consensys' technology, including the Linea layer-2 network and the popular MetaMask wallet.

  • He also argues that interoperability among different platforms is essential for the future of social media, envisioning a landscape where users are not confined to specific platforms for communication.

  • Having been developed over five years with approximately $500 million in funding, Project Liberty is described as 'population-scale' ready.

  • To further discuss the future of the internet, Project Liberty is hosting a summit on November 21-22, 2024, in Washington, D.C.

  • The compatibility with Ethereum's ecosystem is expected to boost interest in Frequency and its Decentralized Social Networking Protocol (DSNP), while also generating revenue for Linea.

Summary based on 1 source


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