The head of Twitter said that the blockchain is great for establishing trust relationships in a digital world
The head of Twitter and payment startup Square Jack Dorsey at a hearing in Congress on Wednesday, September 5, said that his company explores the possibility of applying blockchain technology to combat fraud. It is reported by CoinDesk.
“You previously expressed interest in the widespread use of the blockchain technology, including the ability of identification to combat false information and scams. What are the possible applications of the blockchain you see?” asked California representative Doris Matsui at a meeting of the Committee on energy and Commerce.
The head of Twitter said that the blockchain is great for establishing trust relationships in the digital world. This is particularly important in the light flooded the social network of fake accounts, trying to deceive users and lure their cryptocurrency.
“The first thing to start with learning the problems we have to solve which we solve and then look at the available technologies and to understand which of them will help us to improve the result. Blockchain, I think, is the technology that has huge and untapped potential, particularly in the areas of distributed trust and, potentially, distributed enforcement. We have not yet reached the desired level of understanding, how could we apply this technology to problems faced by Twitter. But we have people who study this issue,” said Jack Dorsey.
Previously, Jack Dorsey said that the Internet needs its own native cryptocurrency that can be bitcoin.
We recall that in August, one of the organizers of this fraudulent scheme was in Twitter said that promising investors increase assets and free distribution of Ethereum cryptocurrency scheme, brings to criminals the profit from $50 000 to $100 000.
As reported, Walmart uses the blockchain for parcel delivery drones. To recognize each other’s drones can use different technologies: RFID tags, QR codes and ultrasound.
We will remind, the scientist from Oxford will open in Malta blockchain University. The inability to change data in the blockchain gives confidence in the reality that the student receives education.
Previously a resident of the Netherlands Dian van Heijningen put up for sale the house while in payment he is ready to accept tokens VeChain (VET). The cost of homeownership was estimated at 31.5 million VET that at the moment is about 505 thousand dollars.