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Michael Saylor: Bitcoin Can Boost Security, And Combat Digital Trust Issues

The executive chairman of MicroStrategy, Michael Saylor recently stated that the primary crypto, Bitcoin, can bring cause and consequence to the digital space. He added that this would help to improve the security system in the industry.

According to the report, Saylor expressed his opinion on how cryptocurrency platforms like Bitcoin can help to solve security issues and combat trust issues plaguing the crypto industry. He started this in a recent interview with a news agency.

While speaking, Saylor reportedly said Bitcoin can fight the cybersecurity threats led by artificial intelligence like deepfake. He cited examples using social platform accounts created and controlled by bots.

In his view, millions of fake accounts are responsible for the majority of the ‘civil war’ going on in the digital space today. He added that they kept stirring chaos, hatred, and confusion among the real-life users of these digital platforms.


AI and Other Tech Exposes the Cyberspace To Fake Entities

Furthermore, he continued that cyberspace is so vulnerable that with the aid of this artificial intelligence, anyone can just create billions of imaginary people, creating hatred between fake Democrats and fake Republicans which would probably translate into real-world hatred. 

The executive gave the illustration while explaining to his audience how AI and other advanced technologies can make it challenging to detect deepfake projects. The executive who has more than three million followers on Twitter said he regularly gets up to 2000 fake followers on his Twitter page daily.

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In addition, he said sometimes he could see about 1500 bot accounts get removed from his page in just a space of one hour. It is high time we find a solution to that status quo, and eradicate the unwanted not, Saylor said. 

Procuring the solution to the disturbing fake accounts created by deepfake and other artificial intelligence, which are eroding people’s trust in cyberspace, Saylor suggested decentralized identities (DIDs) as a suitable solution.

For context, a decentralized identity is a private and self-reliant identity that allows reliable and verified data exchange. In simple terms, it is a process of validating and controlling an online identity and personal data.

Saylor Suggested a Decentralized Identity Solution

In addition, if the power of cryptography is combined with the prowess of decentralized platforms such as Bitcoin, it would help to instill cost and consequences into the digital world, according to Saylor. 

He illustrated that for instance, if an individual decides to deploy a billion bots on Twitter, he would need to execute a billion transactions simultaneously. Realizing the enormous cost of such action would most likely deter people from deploying so many bots, he observed.

Michael Saylor’s firm, Microstrategy, is one of the firms that offer encrypted signature services to social users and organizations. In addition, Sam Altman, the executive officer of Open AI, is reportedly creating proof of personhood on Worldcoin, his crypto scheme. 

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The firm recently raised about $115 million in funds to support the decentralized identification tool it is working on. In the same manner, Polygon deployed a decentralized identity project which is backed by a zero-knowledge proof consensus mechanism, recently. 

The project uses cryptographic methods to help users verify their online identity while keeping all sensitive information private and out of reach for third-party. The firm launched the project exactly a year after its development was announced.

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Brenda Collins

Brenda Collins is a seasoned crypto news writer with a deep passion for blockchain technology and its transformative potential. With years of experience in the industry, she has honed her skills in delivering concise and insightful analysis, making complex concepts accessible to a wide audience. Brenda's dedication to staying up-to-date with the latest developments in the crypto world ensures her readers receive accurate and timely information.

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