Elon Musk and Twitter are making headlines again. Check out the issue about identity that crypto could turn out helpful with.
Crypto could help with Musk’s identity issue
There has been a lot of fuss about Elon Musk’s new “blue tick” (checkmark) verification scheme. Existing blue ticks are up in arms about the plan. This would give anyone a blue checkmark on their tweets if they pay Musk $8 a month, with no questions asked.
“Twitter Blue marketing makes it clear that there will be no identity verification. Pseudonymous accounts will be able to get blue ticks.
Musk has expressed a hope that opening the blue tick scheme to a much wider audience will eliminate hate speech on Twitter and stop the proliferation of bots, spammers and fraudsters,” CoinDesk notes.
The same online publication continues and notes that he might not be right.
CoinDesk analyzes how crypto could save Twitter from the identity issues.
Musk and FTX
Musk said that he turned down a meeting with Sam Bankman-Fried earlier this year after the former crypto billionaire gave off some red flags.
First shared by Internal Tech Emails, which posted emails from the tech industry that appear in public records, Morgan Stanley banker Michael Grimes reached out to Musk on behalf of Bankman-Fried, offering a partnership on his Twitter investment.
According to the email records, Grimes told Musk that the then-FTX CEO was interested in investing up to $5 billion in Musk’s Twitter takeover. He also said that he was interested to implement blockchain to the social media platform.
Grimes said the following:
“Could do $5b if [everyone’s] vision[s] lock. Would do the engineering for social media blockchain integration. [He] founded FTX crypto exchange.Believes in your mission, Major Democratic donor. So thought it was potentially worth an hour tomorrow…”
Check out the previous article for more details.