- July 17, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
On Tuesday, July 16, Charles Hoskinson, founder of the blockchain platform Cardano, publicly offered to assist Elon Musk in addressing the escalating issue of account hacks and the proliferation of scam bots on X (formerly Twitter). Hoskinson’s proposal involves the integration of Decentralized Identifiers (DIDs), a concept endorsed by standards bodies like the World Wide Web Consortium (W3C), into X’s framework.
What The Cardano Founder Offers Musk
Hoskinson reached out directly via an X post, stating, “Elon, we need DIDs integrated into X. It solves all of these problems. Again, I’ll do it for free.” This offer was made in the context of recent security breaches highlighted by Ben Goertzel, CEO of SingularityNet, who apologized to his followers after his account was hacked and used to distribute scam links.
The conversation about DIDs and their potential application within X’s platform has ignited a broader debate about the nature and implementation of decentralized identity technologies. Timothy Ruff, General Partner at Digital Trust Ventures, criticized the proposal for potentially centralizing an aspect of X that should remain decentralized. Ruff argued, “If you’re using ‘DIDs’ as short for decentralized identity (it’s not) and it’s on some blockchain, it’s not decentralized and should not be integrated into X.”
In response, Hoskinson clarified his position, emphasizing the technology’s alignment with broader standards and its blockchain-agnostic nature. Hoskinson clarified that he isn’t specifically proposing Cardano as a solution: “I’m referring to the w3c standard and we have a blockchain agnostic hyperledger project to issue and manage dids, anoncreds, and other parts of the identity stack. X has to have an enhanced identity solution because of its desire to become an MSB.”
He further argued that integrating this technology into X would enhance security, improve access control, remove bots, and streamline compliance systems, adding that “It’s in Scala like their software. It’s a easy lift and I’ll do it for free. I’m not here to shill a blockchain. I want X to be better since it’s essential public infrastructure.”
Ruff responded by acknowledging Hoskinson’s credentials but reiterated his concern about the dependence on blockchain technology: “My team helped launch the W3C spec, invent DIDs, and literally wrote Anoncreds, Hyperledger Indy, Aries, and Ursa. So I get it. Glad you’re not shilling a particular blockchain, but by ‘blockchain agnostic’ do you mean it still depends on some blockchain?”
Hoskinson replied: “Tim, I recall talking to Manu and Chris extensively throughout the years on the did standard and have been a member of DIF and the W3C for just as long. No, as you’re aware did frameworks do not require blockchains. That’s a different part of the stack and shouldn’t influence design.”
In support of the practical application of such technologies, Seira Yun, Founder & CEO at Socious and a Cardano ambassador, highlighted their use in issuing verifiable credentials through the Socious Wallet, which leverages Hyperledger Identus and complies with W3C standards: “The Socious Wallet leverages Hyperledger Identus (formerly known as Atala PRISM), which is compatible with W3C standards. Companies and educational institutions use Socious to issue KYC verifiable credentials (VCs) as well as work and educational certificates.”
While a large majority of the Cardano community encouraged Elon Musk to get in touch with Hoskinson, the Tesla billionaire has not yet responded to the offer yet.
At press time, Cardano (ADA) traded at $0.446.
