Stating that the current verification system is very bad, Elon Musk introduced new changes to Twitter this Tuesday (1). However, the Ethereum founder is concerned about the billionaire’s plans.
During September, the month in which Ethereum drew the attention of the market for its update, there were at least 500 fake Vitalik Buterin profiles. Some of them even had a verified stamp.
The hit was even noted by Musk, who joked about the situation the following month.
“I had to double check. This is the first non-fake Vitalik tweet I’ve seen in a long time.”
Had to do a double-take. This is the first non-fake Vitalik tweet I’ve seen in a while.
— Elon Musk (@elonmusk) October 25, 2022
Elon Musk wants to end the “Kings and Peasants System”
While the verified badge is intended to help users distinguish real profiles from fake ones, scammers continue to exploit the verified badge, as highlighted above. So, Elon Musk is looking to make some changes to it.
“Twitter’s current lords and peasants system to see who has or doesn’t have a verified blue badge sucks. Power to the people! Blue for $8/month”.
Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit.
Power to the people! Blue for $8/month.
— Elon Musk (@elonmusk) November 1, 2022
Next, the billionaire affirms that this amount, which in direct conversion would be COP$39,980, would be adjusted from country to country, reflecting the purchasing power of citizens. In other words, it is possible that the resource arrives much cheaper in Colombia.
Musk also comments on the advantages of having a paid profile. As an example, he cites “priority in answers, mentions and surveys”as well as the ability to post longer videos and audios, and see fewer ads.
So this would be a way to monetize Twitter while solving an old problem. After all, many people would like to review their profiles but can’t.
Vitalik Buterin thinks this is dangerous
Despite the fact that Elon Musk’s tweet already has more than half a million likes, not everyone is happy with the change. As a highlight, the founder of Ethereum believes that this will give scammers more power.
“How well this works depends on exactly how much diligence is done to ensure that people with blue stamps are who they say they are. Pay $8/month and call yourself whatever you want to undermine the anti-fraud role of the blue seal. But if there is a more real control, the result is very different”.
Finally, Vitalik Buterin also criticizes critics who complain about capitalism for the new system. “The current blue seal system is much more unique”countered the developer.
How well this works depends on exactly how much due diligence is done to make sure blue checks are who they say they are. “Pay $8/month and call yourself whatever” would damage the blue check’s anti-scam role. But if there’s more actual verification, the result is very different. https://t.co/BsQJCMsmDk
— vitalik.eth (@VitalikButerin) November 1, 2022
Finally, Elon Musk also commented on the existence of secondary labeling for public figures, as already exists in the profiles of politicians. So this may drag on, but Musk is still far from solving all the problems with his new social network.
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