Meta is Working on a Decentralized Social App
March 17, 2023
Seeing how slowly Twitter is going downhill, it is common for new players to appear seeking to use their space. The most attractive thing is who has fully gotten into something similar: Meta. The Mark Zuckerberg-owned company is in the early stages of developing an app dedicated to writing-based posting.
“We are exploring an independent decentralized social network to share written updates”
The company explains to Platformer in an email.
“We believe there is a possibility for a separate place where creators and public figures have the possibility to share eventual updates about their interests.”
The application is hidden under the code name P92 and apparently will allow you to log in through Instagram credentials, according to Money Control.
Competition
In other words, pretty much all that is known about the plan. The app is in the early stages of development and there is no release date. Yes, Adam Mosseri, CEO of Instagram, appears to be in charge of the plan, according to sources. The strength of the app is decentralization.
Although there are no details about it, in a decentralized network users have the ability to configure and set specific rules regarding content moderation, providing examples. With such a network, Meta may have the ability to connect its new application with other social products.
Facebook benefits relatively easily from data collection that enables lucrative advertising services, something that has led to scrutiny by regulators. With a decentralized network, Meta could turn the tide. Well yes, at least to date, no one has been able to generate a profitable decentralized network on a universal scale.
Bussines
The big challenge for developers is that core functionality, such as client continuation, would be on a different server and would have to convince users to log in elsewhere. In addition, it is not clear what business model is suitable for an application of this class.
One only has to see how decentralized networks have been heavily promoted by cryptocurrency practitioners. Anyway, their lack of stability has made this approach seem unconvincing. What is clear is that a decentralized social network with good design and a huge customer experience. By also having stability and privacy as central axes of the experience, it could put any player in the medium in check.
Meta already has Instagram, and given its universal reach and the huge percentage of public figures who use the app on a daily basis, it could help put its writing-based social network in trouble. At the moment it is difficult to predict whether the plan will go through, but Meta has the accessories and experience to pull it off.
Finally
The initial version of the app will work as touchable links on posts with previews, customer bio, customer name, verification badges, and images and videos that can be shared. It will also have features such as followers and likes. But it is not known if the early version of the product will have helpful comments and posts.
The development team is also looking into the possibility of allowing content sharing again as on Twitter, but only for accounts of organizations and creators. From the start, MVP will integrate a rights manager for its own content. But not for third-party content from other applications and servers. Cointelegraph contacted Meta for confirmation. This article will be updated as new information becomes available.
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