Twitter Will Now Feature Gold, Gray, Blue Ticks: Elon Musk Details New Plan To Resolve Verification Mess - Eli Lilly (NYSE:LLY)

Elon Musk has floated a new plan to counter the negative impacts of the Twitter Blue verification that was rolled out briefly and then withdrawn.

What Happened: When a social media influencer going by the Twitter handle @Cryptoking called Musk’s attention to his inability to edit despite having a verified badge, the billionaire apologized and gave a new timeline for relaunching the “verified” feature.

“Sorry for the delay, we’re tentatively launching Verified on Friday next week,” Musk said. He also indicated there would be three different colored badges for verification – gold checks for companies, gray checks for government accounts and blue checks for individuals, irrespective of whether they are celebrities are not. 

All verified accounts will be manually authenticated before the check activates, he said. While conceding the process is painful, he said it is necessary.

To the question of whether the color checks are customizable and whether there will be a red check for those that commit fraud but are verified, Musk said deliberate impersonation/deception will result in account suspension.

“Organizational affiliation, bio and follower count distinguish between people who genuinely have the same name,” he added.

See also: Charging For A Blue Verified Badge On Twitter: Will It Increase The Number of Bots? Benzinga TV Asks

Why It’s Important: After Musk took over Twitter, he made several changes to the platform, including the decision to charge $8 per month for blue tick verification. This feature went online briefly, but resulted in the spawning of impersonators on the platform, which in turn had a negative financial impact on the original accounts they were impersonating.

A case in point is Eli Lilly & Co. LLY, which suffered an erosion in market capitalization after a fake account impersonating the company said insulin will be offered free of cost.

When teething problems abounded, Musk opted to roll back the feature with the promise of bringing it back after ironing out the wrinkles.

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