- Charles Hoskinson of Cardano has proposed integrating Decentralized Identity (DID) into X to reduce scams, citing a recent hack of SingularityNet CEO Ben Goertzel’s account.
- Despite his efforts, Hoskinson has yet to secure Elon Musk’s partnership for this initiative.
Cardano’s Co-Founder Proposes Solution to Recent Hacks
Cardano’s Charles Hoskinson is making headlines once again with his proposal to integrate Decentralized Identity (DID) into X (formerly Twitter) to combat the growing number of scam attacks. His latest call comes on the heels of a recent incident where the CEO of SingularityNet, Ben Goertzel, had his personal X account hacked. The hacker used Goertzel’s account to post fraudulent links, attempting to scam his followers.
A Call to Action
Charles Hoskinson, co-founder of Cardano (ADA), is urging Elon Musk to consider integrating Decentralized Identity (DID) into the X platform. According to Hoskinson, this technology can significantly reduce the frequency of scams and enhance the security of user accounts. DID enables users to store their personal information in a decentralized identity wallet, allowing them to control which information they share with businesses or websites. This approach minimizes the risk of sensitive data, like phone numbers or credit card information, being stored on websites that can be targeted by hackers.
Background of the Story
On July 5, Ben Goertzel, CEO of SingularityNet, publicly apologized after his X account was compromised. The hacker used the account to share fraudulent links, enticing followers with references to SingularityNet-related crypto tokens. Following the incident, Goertzel managed to recover his account and advised affected users to report the scam to authorities. He also announced that he would be leveraging SingularityNet’s IT team for enhanced security of his social media accounts.
Hoskinson responded to this incident by tagging Elon Musk in a post, highlighting his willingness to offer a free DID integration to mitigate such security breaches. Despite multiple attempts, Hoskinson’s efforts to secure a partnership with Musk have not yet been successful.
The Potential of DID
DID technology is designed to combat various forms of scams, including deepfakes, synthetic identities, and Sybil attacks, while also addressing privacy concerns. This digital wallet system uses distributed ledger technology maintained by peer-to-peer networks, giving users control over their personal data. Only a few companies have adopted this cutting-edge solution, with MicroStrategy being one of the latest to implement DID technology.
Hoskinson’s previous attempts to engage Musk have not yielded results, possibly due to misconceptions about him within Musk’s social circles or a preference for Musk to pursue his own strategies. Nevertheless, Hoskinson remains hopeful, emphasizing the value of X as a platform with millions of followers.
At the time of writing, Cardano (ADA) was trading at $0.44, reflecting a 3% increase in the last 24 hours.
