Bluesky project underscores independence from Twitter

The Bluesky project to develop an open, decentralised standard for social networks said that it is independent from Twitter and its controlling shareholder.

Given the surge of interest in Twitter’s future, we thought this would be a good time to clarify the relationship between Bluesky and Twitter.

— bluesky (@bluesky) April 25, 2022

The Bluesky team decided “to clarify the relationship” between the companies after Twitter decided to sell the social network to Elon Musk.

In 2019, Jack Dorseyannounced the creation of a decentralised initiative aimed at social networks, funded by Twitter. In February 2022 Bluesky PBLLC emerged.

Both Twitter and Bluesky realized that our independence is important to the success of the project, which is why we established an independent company to ensure that we serve the broadest possible interests.

— bluesky (@bluesky) April 25, 2022

«И Twitter, и Bluesky поняли, что наша независимость важна для успеха проекта, поэтому создали независимую компанию [Bluesky PBLLC], чтобы гарантировать, что мы служим максимально широким интересам», — говорится в сообщении.

Bluesky noted that Dorsey remains on the board, and the project has secured $13 million in funding to ensure freedom and independence for the start of research and development.

The “public benefit” part of our structure gives us the freedom to put our resources towards our mission without an obligation to return money to shareholders. The company is owned by the team itself, without any controlling stake held by Twitter.

— bluesky (@bluesky) April 25, 2022

«The public portion of our structure gives us the freedom to devote resources to fulfilling our mission without an obligation to return money to shareholders. The company belongs to the team itself, with no controlling stake held by Twitter», — Bluesky added.

Earlier, Dorsey did not rule out integrating the second-layer Lightning Network into Bluesky or Twitter.

In autumn 2021, the social network created the Twitter Crypto division. It was planned that the team would handle everything related to Web 3.0, and would work closely with Bluesky.

Back in late 2021, Dorsey questioned the decentralization of Web 3.0 due to the strong influence of venture capital.

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