Binance can help Musk eliminate Twitter bots with blockchain

Now that Elon Musk finally completed the acquisition of Twitter, he finally has the chance to implement many of the changes he talked about. One of the billionaire’s main intentions is to eliminate the bot problem on the platform – and Binance can help him with that.

Binance will form a team to help Musk eliminate Twitter bots

According to a Friday report, Binance plans to form a team to help Musk eliminate Twitter bots using blockchain technology. The prevalence of these spam accounts on the platform has been one of the main reasons why the tech billionaire chose not to go through with the purchase.

Reportedly, the team has no clear plan right now on how to go about solving the problem. Furthermore, the exact prevalence of Twitter bots must first be quantified. According to a recent revelation by the former head of security for the social media platform, the problem under the previous management was out of control and grossly underreported.

Eliminating spambots is far from the only plan Musk has for his new company. The tech billionaire has already fired the company’s CEO, CFO and other executives. He also has plans to change the community guidelines and reinstate banned accounts, although this will come first the creation of a content moderation council.

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The connection between Binance, Musk and Twitter explained

The major connection between Binance and Musk’s acquisition of Twitter comes in the form of the company’s direct involvement in the purchase. The crypto exchange contributed $500 million to the tech billionaire’s acquisition, and after the deal closed, Chsngpeng Zhao, himself a very active user, expressed his satisfaction with the change.

Twitter has been experimenting with blockchain for years — both during Bitcoin-friendly Jack Dorsley’s tenure and beyond. After allowing premium users to use their NFTs as profile pictures in early 2022, it recently added a built-in marketplace feature called NFT Twitter tiles.

The exact nature of the future relationship between Twitter and blockchain technology is not entirely clear yet. While Musk reportedly considered putting the platform entirely on the blockchain when he originally laid out his purchase plans in April, the idea was dismissed as impractical at the time.

Do you think blockchain technology can help eliminate bots and spam accounts from Twitter? Let us know in the comments below.

About the author

Tim Fries is the co-founder of The Tokenist. He has a B. Sc. in mechanical engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate in the investment team at RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.