Twitter’s Change in Authentication Model

On April 21st, it was reported that since the change in Twitter’s authentication model, multiple encrypted KOLs and founders’ “blue label” certifications have been removed, including Ripple CEO Brad Garlinghouse, Tezos co founder Kathleen Breitman, Shapeshift founder Erik Vorhees, FTX founder and former CEO Sam Bankman Fried, encrypted payment company Block, and former Twitter CEO Jack Dorsey. However, Brian Armstrong, CEO of Coinbase, Zhao Changpeng, CEO of Binance, Jesse Powell, CEO of Kraken, and Vitalik Buterin, founder of Ethereum, were not affected.

Twitter starts canceling blue label authentication for unpaid accounts

Twitter recently made a change to its authentication model which has led to the removal of multiple encrypted KOLs and founders’ “blue label” certifications. The change has affected some of the biggest names in the crypto industry, including Ripple CEO Brad Garlinghouse, Tezos co-founder Kathleen Breitman, Shapeshift founder Erik Vorhees, FTX founder and former CEO Sam Bankman Fried, encrypted payment company Block, and former Twitter CEO Jack Dorsey. However, some of the industry’s major players like Brian Armstrong, CEO of Coinbase, Zhao Changpeng, CEO of Binance, Jesse Powell, CEO of Kraken, and Vitalik Buterin, founder of Ethereum, were not affected.

The Change in Authentication Model

Twitter’s change in authentication model has been a topic of discussion among industry experts and enthusiasts. The social media giant made the change to improve the security of high-profile accounts and reduce the risk of scams and fraud. Previously, verified accounts had a blue checkmark next to their usernames that designated them as legitimate.
The new authentication system replaces the blue checkmark with a new label, known as the “blue label.” The blue label is reserved for Twitter accounts that belong to government officials, organizations, news agencies, and other entities with a significant public interest. Any account that is deemed to be inauthentic or violates Twitter’s terms of service is subject to having its verification revoked.

The Impact on Industry Leaders

The change in Twitter’s authentication model has had a significant impact on some of the biggest names in the crypto industry. The removal of the blue checkmark has caused concern among these individuals, who are now at risk of being impersonated by scammers and fraudsters. Many of them have taken to Twitter to express their frustration and disappointment with the decision.
Brad Garlinghouse, CEO of Ripple, tweeted on April 21st: “I’m sorry to be leaving the #bluecheck club, but it was an honor while it lasted.” Meanwhile, Erik Voorhees, founder of ShapeShift, tweeted: “I think Twitter is making a big mistake removing verified badges from some legit crypto influencers while leaving them on all the scammers.”
The removal of the blue label does not affect the legitimacy of these individuals or their companies. However, it does make it harder for their followers to distinguish them from impersonators. This has led many to question the effectiveness of Twitter’s new authentication model for high-profile accounts.

The Future of Twitter’s Authentication Model

Twitter’s change in authentication model is just one of many efforts by social media companies to improve the security of high-profile accounts. However, the impact of this change on the crypto industry highlights the need for better solutions.
In the short term, it is important for individuals and companies in the crypto industry to take steps to protect themselves from scams and fraud. This includes staying vigilant for impersonators and maintaining a strong online presence.
In the long term, the industry must work together to develop better solutions for authentication and verification. This could include the development of a new system that uses blockchain technology to establish trust and legitimacy.

Conclusion

Twitter’s change in authentication model has had a significant impact on the crypto industry, with many industry leaders losing their blue label certification. While the change was made in an effort to improve the security of high-profile accounts, it has raised concerns about the effectiveness of the new authentication model. In the short term, individuals and companies in the crypto industry must take steps to protect themselves from scams and fraud. In the long term, the industry must work together to develop better solutions for authentication and verification.

FAQs

1. What is Twitter’s new authentication model?
Twitter’s new authentication model replaces the blue checkmark with a new label known as the “blue label.”
2. Who has been affected by the change in Twitter’s authentication model?
Many encrypted KOLs and founders’ “blue label” certifications have been removed, including Ripple CEO Brad Garlinghouse, Tezos co-founder Kathleen Breitman, Shapeshift founder Erik Vorhees, FTX founder and former CEO Sam Bankman Fried, encrypted payment company Block, and former Twitter CEO Jack Dorsey.
3. What can individuals and companies in the crypto industry do to protect themselves from scams and fraud?
Individuals and companies can stay vigilant for impersonators and maintain a strong online presence to protect themselves from scams and fraud.