Congressional Committee Hears Twitter’s CEO Discussion on Blockchain Identity Solutions Possibility
Jack Dorsey, the CEO of Twitter, attended a recent Congressional committee on Wednesday, August 5th. During the meeting, California Representative Doris Matsui asked Dorsey about the political conservatives on his social media platform.
At first, Representative Matsui brought up legislation that is presently in progress. As I previously announced in this committee, I am soon introducing legislation to direct the Department of Commerce to convene a working group of stakeholders to develop a consensus-based definition of blockchain,” she said.
From there, she commented, “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?” We remind you there is no shortage of potential applications for blockchain technology.
In response, Dorsey discussed how blockchain solutions may be a good option for these kinds of concerns. He first replied, “We need to start with problems we're trying to solve for our customers and look at all available technology.” He continued on, adding, “Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement. We haven't gone as deep as I would like just yet in understanding how we might apply this distributed ledger technology to Twitter but we have people thinking about it today.”
Based on the recent changes in the media with Twitter, it may seem natural that Dorsey wants the company to learn about other solutions or digital trust. Lately, it seems that Twitter has been a comfortable place for many scams involved identity and even passive theft of cryptocurrency. Bots and fraudulent individual accounts are popping up, which let those users trick others into giving up personal information that links with both fiat and digital assets.
So far, no other efforts seem to have been made by Dorsey, but users of Twitter may hear about the potential plan soon, if Congress does not first.