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Cardano Creator Offers Elon Musk to Secure X with Blockchain
Gamza Khanzadaev
Elon Musk Gets Surprising Offer From Cardano’s Charles Hoskinson
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Ben Goertzel, a prominent AI developer and founder of the Cardano-based SingularityNet project, recently suffered a hacking incident on X, the social media platform formerly known as Twitter. In response, Cardano’s creator Charles Hoskinson solicited Elon Musk to implement decentralized identifiers (DIDs) on X to improve security.
Hoskinson proposed that integrating DIDs would solve numerous security problems on X. He suggested to Musk that DIDs could help verify and protect digital identities, reducing the risk of hacks and unauthorized access. Cardano The founder even offered to implement the solution for free, emphasizing the importance of improved identity solutions for the social network.
The proposal caught the attention of Timothy Ruff, a general partner at Digital Trust Ventures with experience in decentralized identity solutions. Ruff took issue with Hoskinson’s proposal, arguing that true decentralization requires a different approach than that offered by DIDs.
He stressed the need for a truly decentralized identity solution, rather than embedding one platform within another.
How is it possible?
Hoskinson clarified that his reference to DIDs was in line with the W3C standard, highlighting a blockchain-agnostic hyperledger project designed to issue and manage DIDs and other parts of the identity stack.
He argued that X, which aims to become a financial services company, needs a better identity solution for better security, access control and compliance. He reiterated his offer to integrate the framework into X’s infrastructure, which would then be managed by the development team.
Despite Ruff’s concerns about DID and its perceived limitations, Hoskinson continued to be committed to helping X evolve as a platform. He proposed creating an industry working group to bring together leading experts to address identity issues for X and position it as essential public infrastructure.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a focus on securities and financial derivatives. He then completed a master’s degree in banking and asset management.
He wants to contribute to the discussion of economic and fintech topics, as well as inform more people about cryptocurrencies and blockchain.