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New Reddit Engineer Pledges to Decentralize Social Media and add 500 Million New Users to Crypto -Breaking

by Mike Robinson

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Reddit engineer pledges to decentralize social media and to add 500 million new users to Crypto

Blockchain promises to centralize payments, investing, loan settlements and contract settlements. One of the areas that has been a much talked about sector in need of decentralization has been social media – particularly in light of a seemingly unending series of scandals facing top-ranked social media platform Facebook (NASDAQ:).

However, it seems that at least one social media platform has publicly announced that it’s taking steps to make decentralized social media a reality in the near future. An engineer named “Rahul” recently posted the following tweet stating,

“I am joining Reddit’s crypto team. Reddit’s crypto work: What does it do? Three words: Dentralise [sic] Social. Media.”

Rahul tweeted that Reddit would offer crypto to Reddit’s 500 million users. He stated this because people are now the principal content creators of these social media platforms and also generate revenue.

“Reddit has 500M monthly active users. If we can all achieve this, 500M users from web2 will be migrated to web3 once we have done so. Reiterating that, 500M new crypto users will be added to web3. WAGMI [We are gonna make it],”
Raul tweets

“It is time to take back control. Let the internet be truly free and open. Give each of us ownership of what we are using.”

Flipside

  • Recent news stories and documentaries, such as The Social Dilemma and The Social Dilemma have shown how social media and big tech are manipulating our behaviours and using algorithms to seduce us.
  • Although social media claims to be a way for us all to come together, Facebook whistleblower filings show it is actually dividing us for profit.

Why you should care

We offer almost all the sticky, revenue-generating content people need to use social media. To maximize time spent online, our browsing habits and exposure to ads are monitored and limited. Privacy rights don’t seem to matter.

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