Blockchain technology to help Twitter fight scambots, CEO explains 22493
News
Nitin Murali
Sep 6, 2018 at 5:00 PM

To avoid scams on the social media, Twitter CEO Jack Dorsey, on Wednesday, told a Congressional committee that he would explore Blockchain technology to suppress such scams.

During the House Committee on Energy and Commerce, Dorsey spoke about the importance on user privacy protection, fake news, misinformation, and alleged bias against political conservatives on Twitter.
In the committee, California Representative Doris Matsui asked Dorsey hinting at his interest in Bitcoin, “You previously expressed interest in the broad applications of blockchain technology, including potentially in an effort to verify identity to fight misinformation and scams. What potential applications do you see for blockchain?"

Dorsey expressed his opinion that blockchain is one technology that could help solve the problems of his customers. "First and foremost we need to start with the problems that we're trying to solve and the problems we're solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better,” Dorsey explained. “So, Blockchain is one that I think has a lot of untapped potentials, specifically around distributed trust and distributed enforcement potentially,”

“We haven't gone as deep as we'd like just yet in understanding how we might apply this technology to the problems we're facing at Twitter, but we do have people within the company thinking about it today,” he further added.

As BCFocus previously reported, verified accounts of cryptocurrencies themselves have been scammed on twitter. Earlier, Vitalik Buterin of Ethereum, on Twitter had also asked for help from Dorsey to find out who the scambots are. These scambots have also targeted Litecoin’s Charlie Lee and Binance Exchange’s Changpeng Zhao.

According to a CoinDesk report, Tron foundation’s verified account was copied by another Tron Foundation and they cheated users by asking them to donate in ether to their crypto wallet and in return, the users would obtain 4 to 10 of the same. This issue then drew attention to Dorsey, who said: “we discovered this and are fixing the process”.
This has been a major issue in the crypto community on twitter. Twitter needs to take stringent steps to make the platform scambot free.

See also: 

Twitter account of Tesla CEO, Elon Musk hacked! Promises ‘Free’ Cryptocurrency

Twitter takes “great action” against Ethereum scambots, says Elon Musk, Tesla CEO 

Image via Shutterstock

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