Jack Dorsey, the CEO of twitter testified before a Congressional committee on Wednesday, September 5 that the company is investigating blockchain technology for the potential application.
Dorsey addressed questions during a hearing on Twitter transparency and responsibility held in the U.S. House Committee on Energy and Commerce.
Doris Matsui, a delegate from California, got some information about what potential applications blockchain technology may have for the company. Dorsey addressed that blockchain could be utilized to battle scams and frauds, expressing:
“Blockchain is one that I think has a lot of untapped potentials, specifically around distributed trust and distributed enforcement potentially […] We haven’t gone as deep as we’d like just yet in understanding how we might apply this technology to the problems we’re facing at Twitter, but we do have people within the company thinking about it today.”
Dorsey went to another meeting on Capitol Hill on that same day, giving testimony at a Senate Intelligence Committee hearing devoted to alleged interference in the U.S. 2016 presidential election. Following the meetings, Dorsey summed up his ideas on the issue in a Twitter thread.
As Cointelegraph reported in August, research from cybersecurity firm Duo Security shed light on the scandalous marvel of Twitter scam accounts publicizing fake crypto “giveaways,” uncovering a system of no less than 15,000 spam bots.