Twitter CEO, Jack Dorsey is researching Blockchains to improve the platform.
It’s no secret Jack Dorsey is a big fan of cryptocurrencies and blockchain technology, however, as CEO of one of the largest social media platforms and two financial platforms, Square and CashApp which both support bitcoin already, it is promising news to hear for those involved within the space.
Earlier this year Dorsey took to the stage at Coindesk’s Consensus event alongside Elizabeth Stark of Lightning Labs to discuss how he was hoping bitcoin would become the native currency of the internet and what he was doing to help achieve this.
Last week whilst attending a congressional committee hearing, Dorsey was questioned about privacy, misinformation and bias within Twitter as well as what steps he and the company were taking to remedy these concerns. By far the most telling and insightful question however came from California Representative Doris Matsui who asked:
“What potential applications do you see for blockchain?”
It should be noted that Dorsey has already previously mentioned and shown interest in the wider use of blockchian technology beyond just as a currency, especially those revolving around digital identity. Dorsey elaborated:
“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. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially.”
he further added:
“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.”
Twitter has already taken flack from many of its users for their laissez-faire approach to crpytocurrency scams that palgue the platform. So much so that those users have taken measures into their own hands to create temporary solutions such as Scam Clerk and MetaCert. Maybe, just maybe, the permanent solution we need, can be found in blockchains.