Michael Saylor, the executive chairman of MicroStrategy, talked about how cryptocurrencies, notably Bitcoin, may advance security and address problems with digital security in a recent interview with Kitco News. He especially mentioned Bitcoin as a potential defense against deep fakes and other cybersecurity concerns brought on by artificial intelligence.
Saylor highlighted the abundance of fake social media accounts created by automated bots. These bots fuel hostility and provoke a digital “civil war” among genuine users. Expressing concern, Saylor discussed the growing popularity of deep fakes, propelled by AI and advanced technologies. The affordability and difficulty in detecting them add to the worries.
Saylor revealed his daily influx of nearly 2,000 fake Twitter followers, along with the swift removal of numerous bot accounts from his profile.
“I literally saw in a matter of one hour, 1500 bot accounts got scrubbed off my account, and they were bots. So, we can no longer live with that status quo”
Decentralized Identities and Crypto Networks as Solutions
Decentralized identities (DIDs), in Saylor’s opinion as prominent people in the crypto industry, are the answer to the problem of deepfakes and other problems with digital security. It offers individuals the ability to verify and control their online identities and personal data. These self-owned identities ensure secure and trustworthy data transmission.
Saylor believes that encryption and decentralized crypto networks like Bitcoin can enhance the effectiveness of large-scale automated bot networks. These advancements may lead to increased efficiency and impact. By putting in place such controls, malicious actors find it harder and more expensive to exploit digital platforms.
Saylor is leading MicroStrategy, which is aggressively developing encrypted signatures for business solutions and social users. OpenAI and its CEO Sam Altman are developing proof of personhood and decentralized identification tools. They aim to make significant contributions in these areas.
Additionally, in March, the layer-2 protocol Polygon presented its decentralized identity solution. This method allows users to confirm their identity online without sharing private information with others. It relies on zero-knowledge proofs (ZK proofs) for secure verification.
Decentralized identification solutions are a symptom of the industry’s growing understanding of the importance of addressing challenges with digital trust. As the world becomes more interconnected, safeguarding online identities and combatting deep fakes have become paramount concerns for individuals and companies alike.
Businesses such as MicroStrategy and OpenAI, along with advanced technologies like ZK proofs, offer promising pathways to a more secure and dependable digital environment. Their ongoing initiatives contribute to this positive outlook.