Lens Protocol Offers Web3 Blockchain Alternative to Twitter – Bloomberg

Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden’s administration.
Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden’s administration.
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A crypto entrepreneur says a decentralized system can solve many of the ills that Elon Musk has been tweeting about.
Stani Kulechov

Last month, after Elon Musk said he would acquire Twitter Inc., a Finnish cryptocurrency developer named Stani Kulechov tweeted a joke saying he was selected as Twitter’s interim chief executive officer. Then Twitter briefly suspended his account.
On Wednesday, Kulechov will deliver his response: He built a rival social network based on blockchain technology, which will become available for anyone to access for the first time. The network, Lens Protocol, allows people to post and follow but differs from Twitter in a major way: Each piece of content is associated with nonfungible token, giving the creator ownership over their posts, said Kulechov, the founder and CEO of the London-based startup Aave.