Jack Dorsey Steps Down from Bluesky Board
Jack Dorsey, the co-founder of Twitter, has recently announced his departure from the board of Bluesky, a decentralized social media platform he funded in 2019 during his time as CEO of Twitter. The Sunday post on the Bluesky platform confirmed his exit from the board, thanking him for his support and contribution to the project.
Dorseyโs Departure Reasons
- Neither Bluesky nor Dorsey provided reasons for his departure.
- Prior to the announcement, Dorsey simply responded with a brief โnoโ to a query about his status on Blueskyโs board.
Dorseyโs Recent Activity
- Dorseyโs recent activity on X, promoting grants for open interest protocols and referring to a social network owned by Elon Musk as โfreedom technology,โ caught attention.
- Observers noted that Dorsey pared down his follow list on the platform to just three individuals.
Bluesky Development Journey
- Bluesky, introduced by Dorsey in 2019, aimed to create an open and decentralized social media standard.
- After entering beta testing in March 2023, Bluesky opened to the public on February 7, 2024, attracting around 5.6 million users.
Dorseyโs Role in Bitcoin Mining Expansion
With Dorseyโs exit from Bluesky, his company Block is now focusing on developing a full Bitcoin mining system, shifting from chip design to mining operations. Block has made significant progress in designing a 3nm Bitcoin mining chip and is collaborating with a global semiconductor foundry to finalize the design. Additionally, Block plans to expand its mining efforts to include system design.
Jack Dorsey has a history of involvement in the cryptocurrency space, serving as the CEO of Square Inc., a financial services company that developed the popular Cash App. Under his leadership, Square embraced Bitcoin, allowing users to buy, sell, and hold the cryptocurrency directly within the app. Dorsey’s advocacy for Bitcoin as a decentralized and inclusive form of currency has been well-known, emphasizing its potential to transform the financial industry.
Hot Take: Dorsey’s Dynamic Crypto Ventures
Jack Dorsey’s decision to step down from Bluesky’s board suggests a new chapter in his crypto ventures, as he shifts focus towards expanding Bitcoin mining efforts through his company Block. With his background in tech and finance, Dorsey’s continued involvement in the crypto space signals exciting developments ahead, both in mining technology and advocacy for decentralized currencies.
Sources:
1. [Bluesky Announcement](https://bsky.app/profile/bsky.app/post/3krreazpfpu2t)
2. [Dorsey’s X Activity](https://twitter.com/jack/status/1786739952627208579?ref_src=twsrc%5Etfw)
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