Twitter CEO Jack Dorsey told the Congressional Committee on Wednesday that he is exploring blockchain solutions for the platform.
Dorsey’s statement is in response to a question raised by California representative Doris Matsui at the Energy and Commerce Committee hearing, which focuses on user privacy protection, content review, and allegations of political conservatives on Twitter.
“You’ve been interested in the widespread use of blockchain technology, including verifying identity against error messages and fraud. What other potential applications do you think blockchains have?” Matsui asked.
Dorsey said earlier this year that he hopes Bitcoin will become the “local currency” of the network, replying to
:”First, we need to start with the problems we are trying to solve and the problems we solve for our customers, and look at all the available technologies to see if it can help us better serve our customers. The blockchain is what I think has a lot. Technology to develop potential, especially around distributed trust and distributed enforcement.
“”We haven’t thought as deeply as we can about applying this technology to the problems we’ve encountered on Twitter, but the company’s internal staff is really thinking about it,” he added.
Given the recent events, it may not be surprising that companies are looking for possible solutions to support digital trust.CoinDesk reports that Twitter has been widely known for identity scams, which are trying to trick users into cryptocurrencies and use fraudulent accounts and researchers to refer to a large number of zombies.
Dorsey is also the CEO of payment processor Square, and he has shown great interest in blockchain technology.
In 2014, Square Market integrated Bitcoin into the company’s merchant point of sale system. Another Square product, the Cash app, began testing bitcoin transactions at the end of 2017 and last month launched visits to all 50 states in the United States.
At the hearing, Matsui also highlighted a pending legislation requiring the Ministry of Commerce to set up a blockchain working group.
“I had previously announced on the committee that it would soon lead the Ministry of Commerce to convene a stakeholder working group to develop a consensus-based blockchain definition,” she said before asking Dorsey about Twitter technology.
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