This real estate billionaire will invest $ 100 million to replace Facebook | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

This real estate billionaire will invest $ 100 million to replace Facebook

Real estate billionaire Frank McCourt is determined to replace Facebook and will invest about $ 100 million to do so. The former owner of the Los Angeles Dodgers baseball team, has created Project Liberty with which he intends to take power away from Mark Zuckerberg's social network and other dominant apps with respect to the social connection data of Internet users.

McCourt's idea is to build a publicly accessible database of people's social connections, Bloomberg reports. This would allow users to have control over their records and move them between different social networks, instead of being limited to a few dominant applications.

The Liberty project was born as a response to the fear caused by the power that some large companies, especially Facebook , have accumulated over the last decade. Zuckerberg's social network, now linked to Instagram , WhatsApp and others, has the data of all social connections between its users , which gives it a huge advantage over the competition.

"I never thought I would be questioning the security of our underlying systems, namely democracy and capitalism ," McCourt said in a statement. â??We live under constant surveillance, and what is happening with this massive accumulation of wealth and power in the hands of a few is incredibly destabilizing. It threatens capitalism because capitalism needs to have some form of justice to survive â?

How would the new digital database of social networks work?
Project Liberty would use blockchain technology to build a new infrastructure called 'Decentralized Social Networking Protocol' (DSNP).

When it comes to cryptocurrencies , the blockchain stores information about tokens in digital wallets. In the case of the DSNP , it would do the same with social connections .

The brainchild comes from Braxton Woodham , co-founder of Sun Basket food delivery service and former CTO of Fandango, the movie ticket website. One fine day he confided his thoughts to McCourt, who was immediately interested and hired him to build the protocol for the now called Project Liberty.