While speaking at a recent Congressional Committee on Energy and Commerce hearing, Jack Dorsey, CEO of social media powerhouse Twitter, said the company is considering using blockchain in an effort to prevent misinformation and scams that are prevalent on the platform.

Dorsey was pressed by California State Representative Doris Matsui on how Twitter handles content moderation and user privacy protection. She asked:

"You previously expressed interest in the broad applications of blockchain technology, including potentially in an effort to verify identity to fight misinformation and scams. What potential applications do you see for blockchain?”

Dorsey replied:

"First and foremost we need to start with the problems that we're trying to solve and the problems we're solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially."

He added:

"We haven't gone as deep as we'd like just yet in understanding how we might apply this technology to the problems we're facing at Twitter, but we do have people within the company thinking about it today.”

Dorsey, who is also the CEO of mobile payments provider Square, is bullish on Bitcoin and blockchain, suggesting that Bitcoin will eventual become the “native currency” for the internet in the next decade.

Twitter has become a breeding ground in recent months for cryptocurrency related scams, counterfeit accounts, and many other shady activities. Dorsey in the past said the firm would be cracking down on the scam accounts, but the issue remains prevalent to this day. Dorsey hopes, by implementing blockchain, better verification steps can be taken to prevent unauthorized access and misinformation from being spread virally through social media.