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How the new payment certification system, sought by Elon Musk, wreaked havoc on social networks

Messed up, in just a few days. Faced with the proliferation of fraudulent accounts, Twitter re-introduced a badge on Friday, November 11 “Official” The authentication system to certify sure profiles and its payment has been suspended. Credentials, formalized by a small blue badge, make it attainable to substantiate that a person’s account is really theirs and keep away from identification theft. The earlier system was challenged by Elon Musk, the new proprietor of the social community.

Franceinfo returns to those adjustments which considerably led to a decline in the inventory market of a pharmaceutical laboratory.

1Elon Musk launched “Twitter Blue” to pay for certification

Since his arrival at Twitter on October 28, Elon Musk has been pushing for the implementation of a new authentication system, billed for about 8 {dollars} (7.70 euros) per 30 days. Since November 10, “Twitter Blue” has allowed anybody to obtain the blue badge, a assure of authenticity, till now reserved for organizations and individuals who have confirmed their identification on the social community or have a sure notoriety.

The billionaire justifies this alternative by his need to remove “The current system of lords and peasants, between these with blue ticks and people with out.”. This innovation is primarily a strategy to diversify the platform’s income streams, whereas a number of advertisers have briefly withdrawn from Twitter, ready to see how moderation of content material necessary to their manufacturers evolves.

2Identity theft is on the rise

Unsurprisingly, this novelty is accompanied by a proliferation of accounts posing as celebrities or giant corporations. There is a strategy to inform the distinction between a consumer who has paid for the Twitter Blue service and somebody who has the button earlier than turning on the service, however it requires an additional step, which most Internet customers do not do.

A faux LeBron James or Joe Biden was thus capable of pose as a basketball star or the President of the United States. We noticed Super Mario flipping the center finger to a faux Nintendo account.

Parody accounts of former leaders Tony Blair and George Bush have lived on the warfare in Iraq.

A faux British Petroleum account, an oil firm, additionally tweeted “Just as a result of we’re killing the planet doesn’t suggest we can’t miss it”A reference to world warming.

3This mess led to financial losses and political grievances

Pharmaceutical firm Eli Lilly needed to apologize on Thursday after the success of a tweet issued by an account in its title, which gave the impression to be licensed, promising free insulin. Action in the inventory market fell 5%, earlier than rebounding barely, earlier than returning to early ranges.

The American political class was additionally affected by the state of affairs. Senator Edward J. In a letter to Elon Musk, Markey requested methods to be a reporter The Washington Post Can create a faux account in his title. “Selling the fact is harmful and unacceptable. Twitter wants to clarify how this occurred and the way to ensure it would not occur once more.”She was carried away.

On Thursday night, the American Competition Authority (FTC) despatched a uncommon warning to social networks. “We are following the newest developments on Twitter with nice concern. No CEO or group is above the regulation.”mentioned a spokesman.

4An official badge is deployed, withdrawn, re-deployed after which withdrawn once more

In parallel with “Twitter Blue,” the social community discreetly launched the “Official” badge on Tuesday. Accounts resembling the chosen American Alexandria Ocasio-Cortez, Pope Francis in English and even controversial rapper Kanye West obtained the “official” badge earlier than disappearing.

On Wednesday morning, the billionaire introduced that he had deleted the reference. Moments later, the director of product growth, Esther Crawford, confirmed that the “official” badge was certainly “lively”. “We’re simply getting began with governments and business organizations. What (Elon Musk) talked about is that we do not give people ‘official’ badges presently.”, she says. Friday, One of the company accounts “Official” introduced the return of the label, however it was now not seen as of Saturday afternoon.

5The Twitter Blue subscription system has been suspended

As of Friday, it now not seems to be attainable to subscribe to “Twitter Blue” on the web site or by the cellular app. An inner memo printed by some US media explains that the service has been suspended “to resolve the possession downside”. “Please do not forget that Twitter goes to do a variety of silly issues in the coming months. We’ll maintain what works and alter what would not.”Billionaire Elon Musk warned.

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