Cardano's founder offers Elon Musk free blockchain solution
Full story: https://grafa.com/news/cardano-s-founder-offers-elon-musk-free-blockchain-solution-248188
Charles Hoskinson, the founder of Cardano (CRYPTO:ADA), has publicly extended a proposal to Elon Musk to address the escalating issue of account hacks and scam bots on X (formerly Twitter).
Hoskinson's offer involves integrating Decentralised Identifiers (DIDs), a concept endorsed by standards bodies like the World Wide Web Consortium (W3C), into X's framework to enhance security and combat fraudulent activities.
The proposal comes in response to recent security breaches on social media platforms, highlighted by incidents such as Ben Goertzel's account hack on X, which was used for distributing scam links.
Hoskinson emphasised the potential of DIDs to provide robust identity management solutions, streamline compliance systems, and improve access control without centralising control.
However, the proposal sparked a debate among industry experts.
Timothy Ruff from Digital Trust Ventures expressed concerns about potentially centralising decentralised aspects of X if integrating blockchain-dependent technologies like DIDs.
Hoskinson clarified that his proposal is blockchain-agnostic and aligns with broader standards, emphasising its scalability and ease of integration with X's existing infrastructure.
Supporting the practical application of DIDs, Seira Yun from Socious highlighted their use in issuing verifiable credentials through platforms like the Socious Wallet, leveraging Hyperledger Identus and complying with W3C standards.
Despite encouragement from the Cardano community for Musk to consider Hoskinson's proposal, Elon Musk has not yet responded publicly.
Cardano (ADA) continues to trade at $0.446 at the time of reporting, reflecting ongoing market dynamics amidst these developments in blockchain technology and social media security.
Hoskinson's initiative underscores efforts within the blockchain community to address cybersecurity challenges through innovative decentralised solutions, potentially shaping the future of identity management and security measures on major social media platforms like X.
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