For those of my business friends who have been taking a wait and see attitude toward Twitter, it sounds like Co-CEO Evan Williams might finally be waking up to the potential of his product.

One of my biggest beefs with this particular social network is its lack of focus on credibility.  It seems that having a lot of followers is the main criteria for verifying that someone is who they say they are.  Sadly, all you have to do is be followed by a couple high profile sources and every Tweet spammer in the loop will start following you.  If you can get more followers than a credible source, then you can steal their traffic.

Williams this week noted that Twitter wanted to become more reliable as an information source and has proposed a reputation system, as well as a location feature (this is so you can’t pretend you’re somewhere you’re not…like sending Tweets from the South Pole, Iran and so on (I wonder how many cheating spouses will get caught through Twitter!).

If Twitter can accomplish building credibility levels with legitimate Tweets, more of those “wait and see” real business people may make the move to Twitter, which will only serve to make the discussion much more engaging and useful for all who partake.