In a recent interview with Kitco News, Michael Saylor, the executive chairman of MicroStrategy, shared his insights on how cryptocurrencies, particularly Bitcoin, can play a crucial role in enhancing security and combating digital trust issues.
Saylor highlighted the potential of Bitcoin in mitigating cybersecurity threats driven by artificial intelligence, such as deepfake technology. He pointed out the alarming proliferation of fake social media accounts created by bots, leading to a digital “civil war” that fosters hatred among genuine users of digital platforms.
The tech executive emphasized the risks present in cyberspace, where an immense number of fabricated individuals can be effortlessly generated to manipulate public opinion. Saylor stressed that AI and next-generation technologies will make deepfake techniques cheaper and increasingly challenging to detect.
Drawing from his personal experience, Saylor revealed that his own Twitter account, with over 3 million followers, receives nearly 2,000 fake followers daily. Expressing the need to address this issue, he called for a departure from the existing status quo. Saylor believes that decentralized identities (DIDs) offer a potential solution to combat deepfake and other digital trust challenges.
Decentralized identities are self-owned and independent identities that facilitate trusted data exchange, enabling individuals to verify and control their online identity and personal information securely.
Saylor proposed that the combination of cryptographic techniques and the decentralized nature of crypto networks, such as Bitcoin, can bring cost and consequence into cyberspace. By requiring a significant number of transactions to launch a large-scale bot operation, the associated costs and consequences act as a deterrent.
MicroStrategy, under Saylor’s leadership, is actively involved in developing encrypted signatures for social users and corporate solutions. Additionally, Open AI, led by CEO Sam Altman, is working on proof of personhood technology through its crypto project, Worldcoin. Last week, the company successfully concluded a $115 million funding round to support the development of decentralized identification tools.
Polygon, a layer-2 protocol, also entered the decentralized identity space in March by launching its solution. Powered by zero-knowledge proofs (ZK proofs), the platform utilizes cryptographic techniques to enable users to verify their identities online without sharing sensitive information with third parties. This product release comes almost a year after the initial announcement of its development.
