The New York Times – “Companies inspired by the cryptocurrency are creating social networks, storing online content and hosting websites without any central authority…When YouTube and Facebook barred tens of thousands of Mr. Trump’s supporters and white supremacists this month, many flocked to alternative apps such as LBRY, Minds and Sessions. What those sites had in common was that they were also inspired by the design of Bitcoin. The twin developments were part of a growing movement by technologists, investors and everyday users to replace some of the internet’s fundamental building blocks in ways that would be harder for tech giants like Facebook and Google to control. To do so, they are increasingly focused on new technological ideas introduced by Bitcoin, which was built atop an online network designed, at the most basic level, to decentralize power. Unlike other types of digital money, Bitcoin are created and moved around not by a central bank or financial institution but by a broad and disparate network of computers. It’s similar to the way Wikipedia is edited by anyone who wants to help, rather than a single publishing house. That underlying technology is called the blockchain, a reference to the shared ledger on which all of Bitcoin’s records are kept. Companies are now finding ways to use blockchains, and similar technology inspired by it, to create social media networks, store online content and host websites without any central authority in charge. Doing so makes it much harder for any government or company to ban accounts or delete content…”
See also The New York Times – What is a Blockchain? Is It Hype? A technology based on a decentralized network may offer more control over what people do online.
