Sam Bankman-Fried understands Elon Musk. The cryptocurrency billionaire, proprietor of the FTX alternate platform, gave an interview to Bloomberg TV during which he stated that social networks have a “damaged mannequin” that may be repaired utilizing block chain know-how (basic to the business). of NFTs and cryptocurrencies). In keeping with the 30-year-old , the issue is within the moderation insurance policies of the networks: “What’s the moderation coverage for all social networks? Are they like three sorts? It’s the individuals who run three corporations who select what what will get censored and what does not. That is a damaged mannequin… We noticed a social community select to not censor misinformation in 2016 and bought burned for that call, then we noticed them select censorship in 2020 and get roasted for that call.”
Bloomberg | Getty Pictures
In keeping with the businessman, the issue with the networks is that every one is unbiased of the opposite, even after they belong to the identical firm like Fb and WhatsApp, that are a part of Meta: “There isn’t a risk of seeing a tweet on Fb. For those who ship a message somebody on Fb, even WhatsApp cannot learn it, being from the identical firm. It is a actually messy system the place there is not any interoperability between the completely different platforms.”
For Bankman-Fried, using blockchains may clear up the issue and even encourage competitors: “You set the precise underlying messages immediately on the blockchain. What which means is that any platform may, in idea, entry those self same units of messages. So whether or not you are utilizing Fb, Twitter or some other platform… they’re all based mostly on all of the messages… They might be completely different interfaces residing in the identical universe.”
A couple of weeks in the past (earlier than shopping for shares of Twitter and launching a campaign to take management of the social community ), Elon Musk revealed a publish questioning whether or not the platform “adhered to the rules of freedom of expression.”
Requested by Bloomberg TV interviewers if he had already spoken with Elon Musk about his proposal, Sam Bankman-Fried replied: “I have never spoken immediately with Elon about this, however I’d be excited to.”
