Twitter to Study Blockchain to Counter Fraud

Let's see what Jack Dorsey told about fraud countering at the hearings in Congress
06 September 2018   930

Head of Twitter and payment start-up Square Jack Dorsey at the hearings in Congress on Wednesday, September 5, said his company is exploring the possibilities of using blockchain technology to fight fraudsters. This is reported by CoinDesk.

You previously expressed interest in the broad applications of blockchain technology, including potentially in an effort to verify identity to fight misinformation and scams. What potential applications do you see for blockchain?
 

Doris Matsui
California Representative

Mister Dorsey noted that the blockchain is great for establishing trusted relationships in the digital world. This is especially important in the light of cryptoscam related accounts.

First and foremost we need to start with the problems that we're trying to solve and the problems we're solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially. We haven't gone as deep as we'd like just yet in understanding how we might apply this technology to the problems we're facing at Twitter, but we do have people within the company thinking about it today.
 

Jack Dorsey

Head, Twitter

Earlier Mr. Dorsey stated that the Internet needs its own native cryptocurrency, which may turn out to be bitcoin. 

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   55

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.