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It's quite typical hypocrisy when Silicon Valley ignore reality and media writes a story about their supposed "innovative" approach. Truth is such decentralized version of Twitter like social network exist today, and users are in charge of everything on that network not some overarching authority. It's called Mastodon and you are reading post on that network right now. entrepreneur.com/article/36532

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Mastodon

The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!