Following Vitalik Buterin’s call for more social application use cases on Ethereum earlier this summer, multiple crypto companies voiced intentions to build decentralized versions of mainstream social networks like Twitter (NYSE:TWTR). However, to create and view crypto-centered social platforms as merely decentralized versions of Twitter is shortsighted. The moral and technical implications of creating truly decentralized social networks that abide by Web 3.0 principles extend far beyond what the idea of “decentralized Twitter” currently encompasses.
Beyond mere decentralization, there are four key themes central to the idea of crypto social development: private communication and censorship resistance, moderation, decentralized governance, and secure and decentralized money.