This is How IOTA Can Help Elon Musk With Twitter Blue Badge Verification Issue

• The IOTA-based startup put forward its Verifiable Corporate Digital Identities (DID) to solve the Twitter verification issue.
• Eli Lily and Company, an American pharmaceutical company lost billions in market cap due to a fake account twitting that Insulin is free.

A Netherlands-based company has proposed a blockchain-powered solution to end the Twitter blue verification badge issue.

Impierce Techs, an IOTA-based startup that builds services on top of the IOTA identity, has put forward its Verifiable Corporate Digital Identities (DID).

The Verifiable Corporate DID is built on the World Wide Web Consortium (W3C) approved Decentralized Identifiers (DID) and Verifiable Credentials standard. It allows organizations to create a profile that is published on Distributed Ledger Technology (DLT) platforms like Bitcoin, Ethereum, or IOTA.

Impierce Techs’ CEO Jelle Millenaar says that profiles and organizations can easily prove their ownership through a cryptographic operation that is integrated into any social media platform, Twitter included.

A similar process can be done to link the corporate identity to a series of social media accounts, such as Twitter, LinkedIn, and Facebook. This means that anyone who wants to verify the corporate digital identity can see a verifiable link to a domain name and various social media accounts.

The verifiable Corporate DID provides concrete evidence of ownership, making it hard for those with fake accounts to impersonate an organization or an individual’s profile.

The impostor would need to set up and control a hostname that is identical to that of the company’s website, as well as create social media accounts with realistic names, and attain an outstanding following on the accounts.

Millenaar notes that anything that could be used as evidence of authenticity can be presented as a DID backed by blockchain technology.

The Verifiable Corporate DID is an important solution to the Twitter blue verification badge issue. It would help to ensure that only authentic accounts are verified, and it would protect organizations and individuals from being impersonated by fake accounts.

The Verifiable Corporate DID is also a valuable tool for other social media platforms. It could be used to verify the authenticity of users’ profiles, and it could help to combat the spread of misinformation.

The Verifiable Corporate DID is a promising new technology that has the potential to make social media more secure and trustworthy.