Binance, which invested $500 million as Elon Musk’s partner in buying Twitter, hopes to use the social media platform as a “sandbox” to address Web 3 issues, according to the exchange’s chief strategy officer, Patrick Hillman.
“We see this as a huge historic opportunity for research and development,” Hillman told CoinDesk TV’s “First Mover” program on Tuesday.
Hillman said that the exchange cryptocurrency the largest in the world according toamountVolume is looking for a “key partner” in Twitter’s growth and innovation and will turn to a “Web3 solution” to solve some of the challenges on the platform, such as non-fungible token (NFT), user authentication, and user authentication. , and can the platform be used as a payment system to “create micro-transactions”?
Payment strategies can be used as a means of protection against bots, Hillman said, which “common users can bear the cost” while “will be extraordinarily expensive” for bots to carry out their activities. He added that bots have tarnished the ability for the crypto community to use the Twitter platform as a place to speak freely.
“The ability to attack and deal with bot issues is critical,” Hillman said, adding that other issues, including the pump and dump scheme, must also be addressed.
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