Decentralized Social Media is What Binance CZ’s Needs from Ethereum

  • Tweet today between Binance CEO asked Ethereum founder that he is looking forward for the Decentralized social platform backed by ETH2 
  • The U.S President has signed an executive order which would directly affect the social media platforms.

More Cryptocurrency projects will strengthen Space

In a Twitter thread today,  Binance CEO, CZ, and Ethereum founder Vitalik Buterin changed their positive thoughts towards the development and progress of cryptocurrency. 

Vitalik responded to an evoking tweet “ I definitely don’t want to fight! Just want to encourage others to think bigger and would welcome you telling me the same! “ 

In Response, CZ breaks the perception created by his energetic and positive reply, he wished for a decentralized social media backed by Ehteruem 2.0 ( probably due to the latest developments by the President on the social media companies.) 

CZ also wished that the decentralized platform can be on Ethereum and also asked him to keep the good work he is doing.

U.S President v/s Social Media Stand-Off

CZ’s call for decentralized Social Media coincidently matches the time of clash between Twitter and Facebook on the President’s recent move. The U.S President,Donal Trump often uses Twitter to communicate with the public or for any announcement. 

Recently, the President added a fact check to the red flag to two of his tweets and later restricted a post in which he said protestors who engaged in looting would face a violent crackdown. 

Later the next day he signed an executive order asking the regulators to strip down the legal protections that protect the social media companies to be held accountable for the content being posted on their platform.

This further resulted in the lawsuit being filed in the U.S District Court for the District of Columbia by the nonprofit centre for Democracy and Technology. It believes that the President violated the companies right to free speech

Twitter, Facebook share Different views 

Twitter felt accountable for the tweets and suspended the U.S Presidents account for 12 hours for ‘glorifying violence’. 

Snapchat too avoided promotion of the US Presidents content on its platform. But Facebook had a different opinion. It chose not to censor the president’s comments which drew a lot of attention from the critics from the administration.

Wrapping it Up

Decentralized Social Media platform is not a bad idea when a situation like this where-in the much required expressing one’s views is at stake. But the reverse effect should also be thought like misuse of the platform to share fake contents.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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