Dr Justin Thomas is a chartered health psychologist, author and a columnist for The National
November 15, 2022
Last week, Twitter launched a new pay-for-checkmark scheme. The identity-verifying blue checkmark, once reserved for notable individuals and institutions, is now available to all. Since the update was first announced, the price has changed, and details of the verification process are, at best, uncertain. The current state of play is captured in a tweet by Elon Musk, the company's new owner: "Please note that Twitter will do lots of dumb things in coming months. We will keep what works and change what doesn't."
As it stands, the new scheme is part of an update to "Twitter Blue", the social media platform's premium subscription service. Along with the blue checkmark, anyone willing to pay the fee – $7.99 per month – will also get early access to new functions, such as the ability to edit tweets. For the time being, this is rolled out only in certain geographies. Twitter claims the changes are part of a verification revamp motivated by a desire to reduce fake, untrustworthy accounts.
So far, so bad. Since the launch of the new scheme, the platform has been plagued by fake accounts, many sporting the blue checkmark that once signified account authenticity. For example, there was a fake George W Bush account, tweeting that "I miss killing Iraqis", to which a fake Tony Blair replied, "Same tbh". Similarly, a fraudulent Nintendo account posted a picture of the gaming character Mario making an obscene hand gesture.
Elon Musk said Twitter Blue was 'probably' coming back next week in a Twitter exchange on Sunday. Photo: Twitter
Twitter makes most of its revenue from advertising. So if brands are being brought into disrepute, that is going to be bad for business. At the time of writing, Twitter has, at least temporarily, suspended the new blue checkmark scheme amid a wave of people impersonating notable brands and individuals.
Overlooking the chaos of Twitter's blue checkmark free-for-all, the fact that people will pay to verify their identity reflects our changing attitudes toward technology. In the early days of internet chat rooms, the forerunners to social media platforms, almost nobody used their real names. Service providers actively discouraged users from disclosing too much personal information. Anonymity and pseudonymity (fake names) were internet norms.
Today, many people strive for hyper-authenticity, real-time sharing of the most intimate and traditionally private details of their daily lives. And while most of us are not serial over-disclosers or online exhibitionists, we have become far more willing to share aspects of our identities. For example, many of us share our most recent accolades (LinkedIn) or our opinions (Twitter) or even what we are about to eat for lunch (Instagram).
Along with us being OK about projecting our true identities online, we are also increasingly required to verify that we are who we say we are. Web-based services actively and repetitively encourage us to share additional verifying information with them. For example, an email service might request our mobile phone number to help us regain access to accounts should we forget our password.
This need for online verification, and the protection of our digital identity, will only intensify as more of our daily tasks and social transactions move online. Apple, Microsoft, Google and other tech giants have already committed to greater use of biometrics – Face and Touch ID – to access online accounts. Ultimately this move is designed to do away with time-consuming passwords, which are hackable, sharable and forgettable.
The need for verifiable identities will increase as the internet expands. The next significant phase in the evolution of the internet is being called the metaverse. This term first appears in Neal Stephenson's 1992 novel, Snow Crash. The author uses the word to describe a persistent virtual world, a successor to the internet, populated by millions of people in digital avatar form. Stephenson's virtual reality world features places of work, rest and play where people purposefully interact with each other.
Gigi Hadid has deactivated her Twitter account following Elon Musk's takeover of the platform, saying 'it's becoming more and more of a cesspool of hate and bigotry with the new leadership'. AFP
Whoopi Goldberg said she was getting off Twitter because 'it’s so messy'. AP
Producer Shonda Rhimes quit the platform days after Elon Musk took over. Reuters
Actor and filmmaker Alex Winter's account has also been deactivated. AFP
Grammy-winning singer Sara Bareilles said Twitter was no longer for her. AP
Actor Amber Heard, who once dated Elon Musk, has also deactivated her account. AP
Singer Toni Braxton, who has also quit, said she was not comfortable with 'hate speech under the veil of free speech'. Alamy Stock Photo
Comedian Kathy Griffin's Twitter account was suspended after she changed her name to 'Elon Musk'. GC Images
'Avengers' star Mark Ruffalo has pleaded with Elon Musk to 'get off Twitter and get on with running Tesla and SpaceX'. AP
While the details have yet to be fully agreed and ironed out, the emerging metaverse greatly resembles Stephenson's vision. This computerised universe is widely envisaged as an immersive 3D digital ecosystem, a network of unending and interconnected virtual worlds. In his book, The Metaverse: And How it Will Revolutionise Everything, Matthew Ball describes it as "a parallel plane of existence for millions, if not billions, of people, that sits atop our digital and physical economies".
Today, we are "on" the internet. Tomorrow, we will be "in" the metaverse. The need for verifiable identification in such a digital ecosystem will parallel the need for passports, social security numbers and national identity cards in the physical one.
Twitter's blue checkmark scheme looks like it is having some teething troubles. However, rigorous and robust identity verification will eventually become a prerequisite for participation in many walks of online life. I also suspect that many people want, or wanted, Twitter's blue checkmark as a status symbol, the digital equivalent of a branded T-shirt. The blue check, after all, implies that you are worthy of impersonation. The fact that we are prepared to spend money on our digital identities, enriching them with digital status symbols, also fits with future economic visions of the metaverse. As it is offline, so shall it be on the web.
Game 1: Warriors 124, Cavaliers 114 Game 2: Warriors 122, Cavaliers 103 Game 3: Cavaliers 102, Warriors 110 Game 4: In Cleveland, Sunday (Monday morning UAE)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
