A series of mixed responses have started-off on the social media platform Twitter, from the day Coinbase co-founder & CEO Brian Armstrong announced the exit plan in an open letter for the employees and refuted the involvement in social activism and political activities which are hampering the firm’s mission.
While joining the critics, recently, Twitter’s CEO Jack Dorsey slams Coinbase’s newly published policy for employees of not debating on politics which also refrained them from participating in social activism.
Dorsey mentioned that the new policy of Coinbase Inc. acts against the core principles of cryptocurrency on which Coinbase as a global crypto broker focuses on.
Dorsey says that if Coinbase’s mission is to establish an open & decentralized financial system then how a company can forget about Bitcoin which is itself social activism and is actively traded by 35 million userbases of Coinbase. Meaning, Bitcoin is not unrelated or a distraction for the company’s employees and it is direct activism against the conventional, unverifiable, financial system which is directly affecting the societies.
Coinbase’s push towards the apolitical stance came after seeing the growing commotion within the world’s best tech companies where employees can do blunders while focusing on internal strife and social activism that eventually led the companies to suffer.
Armstrong stated, “We’ve seen what internal strife at companies like Google and Facebook can do to productivity.”…“We are an intense culture and we are an apolitical culture.”
However, many commentators are praising Armstrong’s decision and said that the decision is an example of thought leadership.
“We get things done when we are all focused on a unified mission. Brian is Jordan in his prime right now. If anyone is selling shares of Coinbase, I’ll buy it.” Said Adam Draper, the son of crypto maven Tim Draper.
During a virtual conference, the 2020 Oslo Freedom Forum on Sep 25, Dorsey while advocating the decentralized money and the tech behind said that the future of social media platform Twitter “where content exists forever” would be shaped by “Bitcoin and Blockchain.”
Reportedly, five engineers, designers including a few more people is going to be appointed by Dorsey’s Bluesky team to develop an open-source decentralized standard for social media which never done before by anyone, and transition Twitter from a centralized platform to a decentralized internet standard, like SMPT (internet protocol) which can become the alternative to centralized social media platforms.
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