GVA’s David Garrity Says Twitter on Blockchain Will “Purge” Scam Bots
Look out everyone, Blockchain technology is here to save Twitter!
Yes, it really is. Everyone who follows social media trends constantly hears of the term Fake news. This problem is literally a cancer to Twitter because of how its working interface is designed. Twitter is the number one stop for all matters news.
Unfortunately, Twitter is now a troll farm to devastating consequence on information integrity. Spamming is affecting even the most reliable of sources and made veracity a precious commodity. To put this in perspective, Twitter CEO Jack Dorsey stated in March 2017 that there were about 70 million fake accounts and impersonated identities.
The months leading up to the election of President Trump were perhaps the micro-chasm of this blight. Trolls worked overtime to discredit his opponent Hillary Clinton and might just have swung the election in his favor. At its peak, about fake accounts overshadowed about 48 U.S. newspapers and they spread news with a twist, to put it lightly.
Fake news is generally more provocative and juicy than actual news. Therefore, it spreads faster than real news if I may put it simply. A recent study by MIT confirmed the scale of the problem. Some think that this is just political bickering but Twitter luckily happens to disagree.
Solutions by Twitter
Fortunately, Twitter is catching up to reality. This is because Twitter purged 70 million accounts in May alone which accounts for about 21 percent of the active monthly users.
Sadly, Twitter needs to accelerate the process. Trolls generate accounts almost as fast as they are being deleted. Simply put, Twitter needs a fool-proof verification system for this problem to go away.
Recently, a fake Twitter account sent a tweet supposedly from the CEO of Harley Davidson. The tweet called President Trump a ‘moron’ and was retweeted 35, 000 times. Trolls sabotage even the top brands in our society.
In an interview with Bloomberg radio talk, David Garrity-the CEO of crypto asset finance consultancy, GVA research advocates for Blockchain use to eliminate this issue;
“Blockchain would verify user identity when accounts are opened and also to update that record as new posts are added.”
This idea is bold and fitting. Blockchain operates as a tamper proof ledger and would undoubtedly work with Twitter’s model.
Users can utilize cryptography to plug in permissions as to who can access or use their accounts and any related brands. Trolls will have a hard time with attempts to impersonate famous persons and brands or hack into Twitter accounts.
Why This Is Important
- Twitter users will benefit as their identities are secured.
- Additionally, Twitter itself will benefit from investor confidence.
- Brands that market on Twitter will be better guaranteed in their approach that they appeal to real people.
In conclusion, Blockchain takes account verification to a new level. Besides, Twitter employees will have an easy time as the system is automated and efficient. Therefore, Twitter must seize this opportunity and join the Blockchain revolution.