Binance, the world’s largest cryptocurrency exchange, which confirmed last Friday that it financially backed Elon Musk in a deal to buy Twitter, is forming a team to help the social network fight fake accounts.
A Binance spokesperson said the exchange’s internal team of experts will develop a strategy to help Musk realize his vision for Twitter’s future. But first, the team will focus on determining how blockchain and cryptocurrency can benefit the social platform’s operations.
The representative noted that planning for the implementation of this initiative is still at an early stage. The task at hand for the team could include developing “on-chain solutions” to “solve some of the problems with Twitter, such as the proliferation of bot accounts in recent years,” he said.
Let’s remind that Musk has repeatedly pointed out a significant number of bots on Twitter, the share of which, in his opinion, is much higher than reflected in the official reports of the social network. And he called this one of the main problems that can lead to the collapse of the deal for the purchase of the platform.