Policing speech on social media sites has required hefty investments while still failing to stem criticism from users who find the policies either too aggressive or too lax.

The open standard, however, could upend Twitter’s business model in the process, giving rise to competitor services that offer filters, content suggestions or other tools that prove more popular with consumers.

Dorsey said Twitter’s chief technology officer, Parag Agrawal, will be in charge of hiring a lead for the research team, called BlueSky.

Twitter will fund the project, which will take many years to complete, but will not direct it, he said.

He went on to suggest that blockchain technology might provide a model for decentralizing content hosting, oversight and even monetization of social media, without elaborating on possible alternatives to Twitter’s ads-driven business. | To read full story, visit https://startuparound.com/read/1576141205.5952/Twitter-outlines-plan-for-‘open-and-decentralized’-system-for-social-networks?ref=audio_experience