In a limited release, Dfinity demonstrates an open-version of LinkedIn called “LinkedUp”

Yesterday, Dfinity showcased a limited release of its decentralized cloud service that featured an open-source version of LinkedIn called LinkedUp. The social application was nothing more than a demonstration for the moment. But it offered a preview of how an application would run on Dfinity’s distributed architecture (what it calls the “Internet Computer”), which the startup hopes will one day rival the likes of Amazon AWS, Google Cloud, and Microsoft Azure.

Why it matters:

• This demo was the first significant development update from Dfinity since Nov. when the startup released an alpha SDK and the details for the network’s smart contract language. Aside from the Nov. release, development has been noticeably scarce, and there is still no timeline for the Internet Computer’s public launch. Dfinity could be taking a measured approach considering its ambitious vision, hence the development delays. But one thing is certain: capital on hand is not an issue. In 2018, Dfinity raised over $160 million in a pair of venture rounds led by renowned crypto investors a16z and Polychain Capital, the second of which gave Dfinity a pre-launch valuation of $2 billion.
• Dfinity now joins Block.one as blockchain development companies using their technology to undermine today’s social networking giants. This approach makes sense conceptually as there is a clear divide between the two offerings, one that favors blockchain-based models. The status quo of social apps harvesting and sharing user data without consent is well-documented. On the flip side, decentralized competitors aim to preserve data privacy since underlying data structures are not owned or controlled by a single corporate entity.