CEO of Twitter and the payment startup Square Jack Dorsy said during U.S. congressional hearings that his company will research the possibilities of applying blockchain technologies for combatting fraudsters.
“Previously, you showed interest to the wide application of blockchain technology, including the possibility of person’s identification for combatting the unreliable information and fraud. What possible applications do you see for blockchain?” – U.S. Representative for California's 6th congressional district Doris Matsui asked during the session of the Energy and Trade Committee, finance.ua reports.
CEO of Twitter noted that the blockchain is perfect for establishing fiduciary relationships in the digital world. It is especially important in light of fake accounts in social media, attempting to trick users and draw cryptocurrency out of them.
“First of all, we need to start studying the problems, which we need to solve and which we solve, and then look at available technologies and understand which of them will help us to improve the result. Blockchain, I think, is the technology, which has the huge and unused potential, especially in the regions of distributed trust, and, potentially, distributed law enforcement. We have not achieve the necessary level of understanding, how we could apply this technology to the problems, which Twitter faces. However, we have people, which study this question”, Jack Dorsy responded.
