The CEO of Twitter Jack Dorsey (Jack Dorsey) said that his company is exploring the possibility of integrating a blockchain solutions on their platform.
Dorsey was invited to the Congressional hearings of the house Committee on energy and Commerce, is dedicated to the protection of confidentiality of user information, misinformation, the moderation of content and alleged bias of Twitter to politicians-conservatives.
“You have previously expressed interest in the widespread use of the blockchain technology, including potential work on personal data verification to combat false information and fraud,” he turned to the Creator of Twitter, the California representative Doris Matsui (Doris Matsui).
Recall, Dorsey has repeatedly stated its positive attitude to innovative technologies and digital currencies. This spring, he even suggested that bitcoin will become a single bitcoin Web. However, the entrepreneur did not address the subject of possible ban on advertising of crypto-currencies on the platform of Twitter, rumors of which have flooded the network in the spring.
Matsui asked Dorsey to tell what the possible applications of the blockchain he sees.
“First and most importantly, where we need to begin — the problems that we are trying to solve, and problems that we solve for our clients by considering all appropriate technology in order to understand if they can help us to strengthen or significantly improve these decisions. The blockchain is the thing that I think has huge untapped potential, especially in the area of distributed trust and distributed execution”, — said Dorsey.
He stressed that his company is still studying the technology from the point of view of its potential benefits, however, some attention is really paid to search the blockchain solutions to combat fraud.
“We went so far, we are still looking for an understanding of how we can use technology in relation to the problems faced on Twitter, but in our company there are people who think of it at the present time”, — said the businessman.
Perhaps it is not surprising that the company is looking for possible solutions for strengthening the “digital trust” because, as you know, some time ago, Twitter has become the epicenter of fraud in the sphere of personal data: it’s about the attempted extortion of cryptocurrency savings users. Through fake accounts and mass botnets, potential Scam offered users to send donuts, mainly in the course were fictitious profiles of celebrities and developers CryptoStream.
Overall, all aspects of the work, which involves an entrepreneur, or otherwise already have a relationship to Cryptoprotected. Just remember that payment processor Square, where Dorsey also holds the post of CEO in 2014, has integrated bitcoin into their merchant POS system, and in August this year, the company received a patent for a payment system that is compatible with the cryptocurrency.
Mobile application for payments Cash, another product Square, began to test the system trading bitcoin at the end of 2017, last month, running it in all 50 States.
However, during the congressional hearings sounded another news relating to the regulation of the cryptocurrency markets in the United States. So, Doris Matsui has mentioned that there is every reason to assume that the Ministry of Commerce will soon be a working group to study the blockchain.
“As I have declared in the Committee, I will soon introduce a bill that will be sent to the Ministry of Commerce to form a working group consisting of representatives of stakeholders, with the aim of arriving at a consensus definition of the blockchain”, — said the representative of the state of California.
