It can be used for spam filtering. Surely the people you follow aren't spammers (if they are, you are really bad at following people). Maybe you trust that those they follow also aren't spammers. And maybe you trust that those that they follow also aren't spammer. Presumably, you trust this only up to a certain amount of degrees of separation. Personally, I think this shouldn't be done through followings at all. Rather, there should be account dedicated to certifying users. Each user may seek verification from multiple account. Each user may trust any amount of verifiers. If a user is verified by at least one verifier you trust, your client shall mark that user as verified.

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Your dedicated verifier idea seems to be quite implementable. You just have to have a pubkey that hold itself out as a "verifier" and vouch for all the pubkeys that it follows. Actually, on second thought, you don't even need the pubkey to "hold itself out" in that way. You can just choose to treat any existing pubkey whose social judgment you trust as a "verifier". Then all we need is a functionality in clients that lets a user set a list of the user's trusted verifiers, and then the client filters out all pubkeys that are not followed by any of the verifiers specified by the user. Am I getting this right?