US Billionaire Launches Project to Improve Online Competition

US Billionaire Launches Project to Improve Online Competition

( – Big tech companies like Facebook have amassed significant amounts of power over the course of the last decade. Recent efforts to throttle conservative voices have raised serious concerns, particularly when they de-platform major public figures like former President Donald Trump. One wealthy individual is looking to solve the problem.

Billionaire real estate mogul and former LA Dodgers owner Frank McCourt announced a new $100 million initiative called Project Liberty. Its goal is to rebuild the foundations of social media and take control out of the hands of the few and return it to the many.

Project Liberty will allow users to move records associated with social media services on a publicly accessible database instead of using one of the few dominant social media platforms, like Facebook. It uses a specific type of database called a blockchain. These databases store data in individual blocks that are then chained together.

Blockchains can be set up to operate in a decentralized manner so that no single individual or company controls the system. Instead, all the system users collectively have control, leaving out the need for a middle person like traditional social media apps.

McCourt told reporters he never thought he would be questioning the security of democracy and capitalism. As he explained, Americans “live under constant surveillance,” and the accumulation of power and wealth in the hands of the few is destabilizing the nation.

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