In a nutshell, meta–meta, which is the parent corporation of both Facebook and Instagram, is looking into the possibility of developing a decentralized application right now. Following an initial foray into the metaverse, which was hailed with both praise and criticism, the society founded by Mark Zuckerberg has demonstrated an increasing interest in blockchain technology. She would even think about releasing an application that would function on a decentralized network if given the opportunity.
Our friends at MoneyControl were the first to report the news. A decentralized social network is something that Meta would like to construct. This decentralized application (dApp), the purpose of which is to function as a text-based social network, would be given the name P92 for the time being. Apparently to capitalize on Twitter’s precarious state after Elon Musk’s recent acquisition of the company. The following desire for development towards a decentralized social network was affirmed by a spokeswoman for Meta:
We are investigating the possibility of using a social network that is independent and decentralised to distribute text updates. We think there is a need for a separate location where creators and public figures may publish timely updates on their interests, and we feel there is a potential for such a platform.
This news confirms that despite the failures of its metaverse, mark zuckerberg has not said their last word about web technologies 3. Calling for caution regarding this still embryonic decentralized application and pending official communication from Metathis news calls for caution regarding this still embryonic decentralized application.
Therefore, blockchain technology continues to gain support in the social media market. After being worn down by the conventional methods of finance, which have been destroyed by the current political and economic climate, they find a breath of fresh air in Web 3. Even Elon Musk is getting ahead of the curve by thinking about accepting cryptocurrency payments on Twitter.
