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Twitter Applies for US Licenses to Facilitate In-App Payments

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Twitter Applies for US Licenses to Facilitate In-App Payments

Twitter has taken its next steps towards facilitating payments in the app, with The Financial Times reporting that the company has begun applying for regulatory licenses in US states, the next legal requirement for providing payment services in the app.

Payments, which Elon Musk has a long history in, could be another way for Twitter to generate revenue, by enabling transactions between users, from which it would then take a small percentage. Musk has repeatedly flagged his vision for payments as part of his broader push to make Twitter into an ‘everything app’, which would provide more functionality and usage benefits.  

As reported by FT:

In November, Twitter registered with the US Treasury as a payments processor, according to a regulatory filing. It has now also begun to apply for some of the state licenses it would need in order to launch, these people said. The remainder would be filed shortly, in the hope that US licensing was completed within a year, one of the people said.”

From there, Twitter would also look to establish agreements with international regulators to enable payments in all regions.

As noted, payments are a part of Elon’s broader plans for a more functional app, which would replicate the utility of China’s WeChat, which is used by Chinese citizens for everything from ordering groceries, to buying public transport tickets, to paying bills, etc. WeChat has become such a crucial connective element, that it formed a key part of China’s COVID response, with authorities using the app as a means to manage COVID positive citizens and restrict their movement.

Musk isn’t ideally looking to use Twitter as a control device (I don’t think), but the broader concept is to add in more and more functionality, in order to both generate more income for the company, and make the app a more critical element in the interactive landscape.

Twitter’s already exploring several options on this front.

Several app researchers have uncovered mock-ups for Twitter Coins in the back-end of the app.

Via Twitter coins, users would be able to make donations to creators in the app, through on-profile tipping, but beyond that, Twitter’s also exploring options like unlockable tweets, paywalled video, and more, as it seeks to embed broader usage and adoption of in-app payments.

A big opportunity also exists to facilitate remittance, or sending money to family and friends, which is a key use case in many regions. Remittance payment services often charge processing fees, and various social apps have been trying to find new ways to facilitate such without the same costs, with the idea being that once people are moving their money in-app, they’ll then be more likely to spend it in the same place.

Thus far, social platforms that do offer payments haven’t been able to embed this as a use case – but maybe, with Musk’s experience, knowledge and connections, he might be able to make this work in tweets.

Elon, of course, got his start in payments, with his first company, an online bank called X.com, being bought out by PayPal in 1999, his first big business win. And while his focus has since shifted to electric cars and rockets, Musk has keen understanding of the digital payments space, and how it can be adapted for varied usage.

According to reports, Musk told Twitter investors in May last year, that his aim was to see Twitter bring in about $1.3 billion in payment revenues by 2028.

That would give the company a sorely needed boost. After Musk’s cost-cutting efforts, which have resulted in the reduction of around 70% of Twitter staff, the company could be on track to potentially break even this year, or close, but a lot has to go right to get the platform back on track. And with advertisers continuing to back away from Twitter spend, it’s not looking good, while subscriptions to Twitter Blue are unlikely to provide much relief, at least at this stage.

As such, the shift into payments can’t come fast enough, though it’ll still be some time before we see the possibility of in-app payments.

Also, while Musk has made it clear fiat currency will be the main focus of this push in its initial phase, cryptocurrencies could also, eventually, be included. The price of Dogecoin, Musk’s favorite crypto offering, rose to a 24-hour high after news broke of Elon’s expanded payments plan.

Will payments be the answer to Twitter’s revenue woes? Maybe, if Elon’s vision for billions in payments revenue comes to fruition – and with his previous track record, you can’t dismiss the notion entirely.

But it’ll take time, many approvals, and many more steps before we reach the next stage.

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Paris mayor to stop using ‘global sewer’ X

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Hidalgo called Twitter a 'vast global sewer'

Hidalgo called Twitter a ‘vast global sewer’ – Copyright POOL/AFP Leon Neal

Paris Mayor Anne Hidalgo said on Monday she was quitting Elon Musk’s social media platform X, formerly known as Twitter, which she described as a “global sewer” and a tool to disrupt democracy.

“I’ve made the decision to leave X,” Hidalgo said in an op-ed in French newspaper Le Monde. “X has in recent years become a weapon of mass destruction of our democracies”, she wrote.

The 64-year-old Socialist, who unsuccessfully stood for the presidency in 2022, joined Twitter as it was then known in 2009 and has been a frequent user of the platform.

She accused X of promoting “misinformation”, “anti-Semitism and racism.”

“The list of abuses is endless”, she added. “This media has become a vast global sewer.”

Since Musk took over Twitter in 2022, a number of high-profile figures said they were leaving the popular social platform, but there has been no mass exodus.

Several politicians including EU industry chief Thierry Breton have announced that they are opening accounts on competing networks in addition to maintaining their presence on X.

The City of Paris account will remain on X, the mayor’s office told AFP.

By contrast, some organisations have taken the plunge, including the US public radio network NPR, or the German anti-discrimination agency.

Hidalgo has regularly faced personal attacks on social media including Twitter, as well as sometimes criticism over the lack of cleanliness and security in Paris.

In the latest furore, she has faced stinging attacks over an October trip to the French Pacific territories of New Caledonia and French Polynesia that was not publicised at the time and that she extended with a two-week personal vacation.

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Meta Highlights Key Platform Manipulation Trends in Latest ‘Adversarial Threat Report’

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Meta Highlights Key Platform Manipulation Trends in Latest ‘Adversarial Threat Report’

While talk of a possible U.S.  ban of TikTok has been tempered of late, concerns still linger around the app, and the way that it could theoretically be used by the Chinese Government to implement varying forms of data tracking and messaging manipulation in Western regions.

The latter was highlighted again this week, when Meta released its latest “Adversarial Threat Report,” which includes an overview of Meta’s latest detections, as well as a broader summary of its efforts throughout the year.

And while the data shows that Russia and Iran remain the most common source regions for coordinated manipulation programs, China is third on that list, with Meta shutting down almost 5,000 Facebook profiles linked to a Chinese-based manipulation program in Q3 alone.

As explained by Meta:

“We removed 4,789 Facebook accounts for violating our policy against coordinated inauthentic behavior. This network originated in China and targeted the United States. The individuals behind this activity used basic fake accounts with profile pictures and names copied from elsewhere on the internet to post and befriend people from around the world. They posed as Americans to post the same content across different platforms. Some of these accounts used the same name and profile picture on Facebook and X (formerly Twitter). We removed this network before it was able to gain engagement from authentic communities on our apps.”

Meta says that this group aimed to sway discussion around both U.S. and China policy by both sharing news stories, and engaging with posts related to specific issues.

“They also posted links to news articles from mainstream US media and reshared Facebook posts by real people, likely in an attempt to appear more authentic. Some of the reshared content was political, while other covered topics like gaming, history, fashion models, and pets. Unusually, in mid-2023 a small portion of this network’s accounts changed names and profile pictures from posing as Americans to posing as being based in India when they suddenly began liking and commenting on posts by another China-origin network focused on India and Tibet.”

Meta further notes that it took down more Coordinated Inauthentic Behavior (CIB) groups from China than any other region in 2023, reflecting the rising trend of Chinese operators looking to infiltrate Western networks.  

“The latest operations typically posted content related to China’s interests in different regions worldwide. For example, many of them praised China, some of them defended its record on human rights in Tibet and Xinjiang, others attacked critics of the Chinese government around the world, and posted about China’s strategic rivalry with the U.S. in Africa and Central Asia.”

Google, too, has repeatedly removed large clusters of YouTube accounts of Chinese origin that had been seeking to build audiences in the app, in order to then seed pro-China sentiment.

The largest coordinated group identified by Google is an operation known as “Dragonbridge” which has long been the biggest originator of manipulative efforts across its apps.

As you can see in this chart, Google removed more than 50,000 instances of Dragonbridge activity across YouTube, Blogger and AdSense in 2022 alone, underlining the persistent efforts of Chinese groups to sway Western audiences.

So these groups, whether they’re associated with the CCP or not, are already looking to infiltrate Western-based networks. Which underlines the potential threat of TikTok in the same respect, given that it’s controlled by a Chinese owner, and therefore likely more directly accessible to these operators.

That’s partly why TikTok is already banned on government-owned devices in most regions, and why cybersecurity experts continue to sound the alarm about the app, because if the above figures reflect the level of activity that non-Chinese platforms are already seeing, you can only imagine that, as TikTok’s influence grows, it too will be high on the list of distribution for the same material.

And we don’t have the same level of transparency into TikTok’s enforcement efforts, nor do we have a clear understanding of parent company ByteDance’s links to the CCP.

Which is why the threat of a possible TikTok ban remains, and will linger for some time yet, and could still spill over if there’s a shift in U.S./China relations.

One other point of note from Meta’s Adversarial Threat Report is its summary of AI usage for such activity, and how it’s changing over time.

X owner Elon Musk has repeatedly pointed to the rise of generative AI as a key vector for increased bot activity, because spammers will be able to create more complex, harder to detect bot accounts through such tools. That’s why X is pushing towards payment models as a means to counter bot profile mass production.

And while Meta does agree that AI tools will enable threat actors to create larger volumes of convincing content, it also says that it hasn’t seen evidence “that it will upend our industry’s efforts to counter covert influence operations” at this stage.

Meta also makes this interesting point:

“For sophisticated threat actors, content generation hasn’t been a primary challenge. They rather struggle with building and engaging authentic audiences they seek to influence. This is why we have focused on identifying adversarial behaviors and tactics used to drive engagement among real people. Disrupting these behaviors early helps to ensure that misleading AI content does not play a role in covert influence operations. Generative AI is also unlikely to change this dynamic.”

So it’s not just content that they need, but interesting, engaging material, and because generative AI is based on everything that’s come before, it’s not necessarily built to establish new trends, which would then help these bot accounts build an audience.

These are some interesting notes on the current threat landscape, and how coordinated groups are still looking to use digital platforms to spread their messaging. Which will likely never stop, but it is worth noting where these groups originate from, and what that means for related discussion.

You can read Meta’s Q3 “Adversarial Threat Report” here.



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US judge halts pending TikTok ban in Montana

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TikTok use has continued to grow apace despite a growing number of countries banning the app from government devices

TikTok use has continued to grow apace despite a growing number of countries banning the app from government devices. — © POOL/AFP Liam McBurney

A federal judge on Thursday temporarily blocked a ban on TikTok set to come into effect next year in Montana, saying the popular video sharing app was likely to win its pending legal challenge.

US District Court Judge Donald Molloy placed the injunction on the ban until the case, originally filed by TikTok in May, has been ruled on its merits.

Molloy deemed it likely TikTok and its users will win, since it appeared the Montana law not only violates free speech rights but runs counter to the fact that foreign policy matters are the exclusive domain of the federal government.

“The current record leaves little doubt that Montana’s legislature and attorney general were more interested in targeting China’s ostensible role in TikTok than they with protecting Montana consumers,” Molloy said in the ruling.

The app is owned by Chinese firm ByteDance and has been accused by a wide swathe of US politicians of being under Beijing’s tutelage, something the company furiously denies.

Montana’s law says the TikTok ban will become void if the app is acquired by a company incorporated in a country not designated by the United States as a foreign adversary.

TikTok had argued that the unprecedented ban violates constitutionally protected right to free speech.

The prohibition signed into law by Republican Governor Greg Gianforte is seen as a legal test for a national ban of the Chinese-owned platform, something lawmakers in Washington are increasingly calling for.

Montana’s ban would be the first to come into effect in the United States – Copyright AFP Kirill KUDRYAVTSEV

The ban would make it a violation each time “a user accesses TikTok, is offered the ability to access TikTok, or is offered the ability to download TikTok.”

Each violation is punishable by a $10,000 fine every day it takes place.

Under the law, Apple and Google will have to remove TikTok from their app stores.

State political leaders have “trampled on the free speech of hundreds of thousands of Montanans who use the app to express themselves, gather information, and run their small business in the name of anti-Chinese sentiment,” ACLU Montana policy director Keegan Medrano said after the bill was signed.

The law is yet another skirmish in duels between TikTok and many western governments, with the app already banned on government devices in the United States, Canada and several countries in Europe.

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