Billionaire Frank McCourt's Project Liberty Takes on Social Media Giants with Ethereum Partnership
November 20, 2024Bluesky 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.
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