BitClout Unveiled (Day 521)

Finally, yesterday's article on Fast Company revealed the true identity of DiamondHands--the developer/founder behind the project BitClout.

With $200 million backings from the top-tier VC firms, Nader Al-Naji--a former Google engineer--finally unveiled his true identity as the person behind the "DiamondHands" pseudonym.

BitClout has renamed its token from "clouts" to "DeSo," meaning "decentralized social network." "DeSo" is also the name for the foundation and platform that BitClout and many other "apps" are built on.

BitClout or DeSo has depreciated in its token value significantly since I last wrote about them. So what would happen now with the true identity and VC involvements revealed? Would there be a marketing push to grow the decentralized social network? Will it become a threat to Twitter, or will it disappear? Your guess is just as good as mine.

I have slowly come to believe that the centralized platforms will eventually face a conflict of interest between users and their business models. Decentralized models start to make sense to me. A paradigm shift is hard. How long did it take for people to accept e-commerce, and how many years did it take for Amazon to get ahead of the brick-and-mortars? It may or may not end up being BitClout/DeSo. Still, there will be an iteration where a decentralized platform will make the current social media irrelevant, like how Facebook took over from MySpace.

Image Credit: https://www.coindesk.com/business/2021/09/21/nader-al-naji-fka-diamondhands-unveils-new-blockchain-long-term-plan-for-bitclout/

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