There is a new social media platform on the block called Bluesky, and it is quickly gaining popularity among users. This platform was born from former Twitter CEO and founder Jack Dorsey’s research project.
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How Was Bluesky Born?
In 2019, Dorsey started a research project to develop an open and decentralized protocol. Five years later, his vision has materialized with Bluesky, a platform originally born from Twitter, now operating independently since 2021. Bluesky is steadily gaining momentum and currently boasts 24 million users.
The need for such a social media platform arose from a desire for a platform that gives users control over their content, rather than one that, in Dorsey’s words, incites “controversy and outrage.”
Bluesky COO Rose Wang told Yahoo Finance, “Centralized organizations cannot serve the needs of diverse communities. It’s why I think users have felt like they’ve been left behind.”
According to the report, Bluesky is among the top downloaded apps on Apple’s (AAPL) app store and surpassed X in daily app downloads last month.
What Is Bluesky?
Bluesky is built on the “AT Protocol,” a decentralized, open-source technology, and allows users greater control over their online experiences. Unlike centralized platforms like Meta’s (META) apps or Google’s (GOOG) YouTube, where companies dictate the platform’s algorithms and the experiences of users, Bluesky allows users to shape content moderation and move seamlessly between platforms.
As Wang explained to Yahoo Finance, “Your identity, your data can actually move from platform to platform, and you’re not locked into these walled gardens. You own your identity on Bluesky versus having the platforms own your identity.”
Furthermore, Wang explained that Bluesky envisions a digital ecosystem where users own their identities, as various services, from Reddit to dating apps, could integrate with the protocol, offering users freedom from traditional platform constraints.
As regulatory scrutiny of big tech grows, Bluesky’s decentralized model could gain traction and pose stiff competition to other social media platforms.
What Is the Best Social Media Stock to Buy?
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