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Ethereum (ETH) co-founder Vitalik Buterin shared his concern about fraud on Tesla and Twitter chief Elon Musk‘s blue check system can only be a solution, he said.
After announcing on Nov. 1 that Twitter’s blue tick could cost owners $20 a month for verified users, Musk announced that it would be $8. “The current system of lords and peasants for those with or without a Twitter blue tick is stupid,” he said. he tweeted.
But Buterin commented on the announcement, particularly about the potential for fraud. How well this new system developed by Musk will work depends on “exactly how much due diligence is done” to ensure who those behind the blue badges really are. he said in a tweet.
So there is a “but”. Buter continued his statement as follows:
“‘Pay $8 a month and call yourself whatever’ undermines the anti-fraud role of the blue check. But with more actual scrutiny, the outcome would be very different.”
Many people suggested in the comments that paying $8 for a popular verified badge would be worth it for everyone. cheater If it means gaining people’s trust and being able to earn more than the $8 “invested” – others, like Buter, could avoid it with more scrutiny.
However, it is somewhat ironic that cryptocurrency proponents and perhaps decentralization proponents argue. for more know your customer (KYC) type measures.
Economic hierarchy?
“Power to the People” Blue for $8 a month. he said The new head of Twitter announced the news yesterday.
But many people have argued that it’s not entirely clear how power is given to people who can’t afford it for whatever reason – or how users should be empowered to protect their followers.
However, Buterin disagreed, saying the current system is “much* more exclusive than yesterday’s $20 per month level.”
He does not see this as creating any “economic hierarchy”. Buterin added that
“Ideally, verification will be priced separately from other premium services.”
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