Social networking giant Twitter's CEO Jack Dorsey sent out a strong message on Friday and said that most social media entities are experiencing a 'significant trust deficit' as he pointed at the lack of transparency Twitter has' that has led to distrust from many of its users. Twitter intends to give people more control to moderate their interactions so 'a marketplace approach to relevant algorithms' can be enabled through which an open-source social media standard can be funded — so accountability, reliability, and choice will be of utmost importance.