Elon Musk pauses relaunch of ‘Paid Twitter Blue Tick’, may introduce different color check for organizations
Billionaire Elon Musk, the CEO of SpaceX and Tesla, has now come up with a new announcement regarding Twitter’s flagship verification service. Elon Musk has said the social media company is holding off the launch of a new system of issuing verified badges to users and may use different “colour checks” for authenticating organizations and individuals.
Elon Musk
Chief Executive Officer of Twitter
- Born: 28 June 1971 (age 51 years), Pretoria, South Africa
- Net worth: 18,940 crores USD (2022) Forbes
- Children: X Æ A-Xii, Vivian Jenna Wilson, Exa Dark Sideræl Musk, MORE
- Spouse: Talulah Riley (m. 2013–2016), Talulah Riley (m. 2010–2012), Justine Musk (m. 2000–2008)
- Nationality: American, Canadian, South African
- Education: University of Pennsylvania (1992–1997), MORE
- Parents: Errol Musk, Maye Musk
Holding off relaunch of Blue Verified until there is high confidence of stopping impersonation.
Will probably use different color check for organizations than individuals.
— Elon Musk (@elonmusk) November 22, 2022
According to the latest tweet, Tweet Chief Elon Musk has decided to pause the relaunch of Twitter Blue Verification. This has been done till the billionaire believes that there is high confidence of stopping impersonation.
While he has not officially revealed, what will happen if there is no Twitter blue tick, he has dropped a hint of having another service. Musk continues in the same tweet by suggesting that the Twitter team consider utilizing a different colour check for organizations than individuals.
Pharma giant Eli Lilly and Company lost billions because of Twitter Blue
After the Twitter takeover, Elon Musk had announced that every verified account of Twitter would have to pay a fee of $8 every month. Common people could also get their accounts verified by paying just $8. In such a situation, due to Twitter’s paid blue verification, a big pharmaceutical company had suffered a loss of INR 1.20 lakh crore. A fake account was created in the name of the world’s leading pharmacy company Eli Lilly (LLY) and got it verified by paying just $8. After this, this fake account tweeted, ‘Insulin is Free Now’.
After this, some investors got eye on this tweet. They accepted this tweet as true and then investors started withdrawing their money from the company. Due to this, the shares of the company fell by 4.37 percent in a day. Due to this, Eli Lilly suffered a loss of about INR 1.20 lakh crore. After this, the company hastily denied this news by tweeting from its official Twitter handle and told that the company has not taken any such decision.
Due to the paid Blue Verification service, there was a sudden flood of fake accounts and news on Twitter. The number of fake accounts in the name of big brands, companies, and people was increasing continuously around the world. In such a situation, this decision of Elon Musk started being criticized fiercely. In such a situation, Musk was forced to put his Twitter Blue Verification Badge plan on hold.