Share the post "With the acquisition of Twitter, Elon Musk excites the crypto markets more and is full of ideas to integrate the blockchain into Twitter more strongly."
Well, let’s start as everyone knows, recently Elon Musk became the official owner of Twitter. As we can see, Elon Musk is wasting no time and is trying to implement a blockchain system on Twitter in the near future, and Bloomberg analysts believe that this will happen.
So,against the backdrop of these news the “meme” currency dogecoin (dogecoins), which Musk has long supported for a long time (he even called himself “Dogefather”), and which, according to his negotiations with colleagues, he even planned to use on Twitter to pay for reposts and comments, as result already gone up sharply in price.We can notice over the past five days, the dogecoin (DOGE) rate has grown by 83%, however, then it slightly decreased as part of the correction.
So, in a discussion with The Boring Company President Steve Davis, Musk said that “my plan B is a blockchain version of Twitter, in which transactions are built into the commenting system. The user will pay… let’s say 0.1 DOGE for each repost or comment.” Later, however, Elon Musk admitted that the plan was not feasible, but the course of his thoughts was generally clear.
However, you need to understand long before the acquisition of Twitter by Musk, Twitter was still consciously developing its crypto direction and Twitter even created a dedicated Twitter Crypto department.Earlier, under the leadership of Jack Dorsey, Twitter took steps to integrate blockchain technology into this social network – for example, the ability to accept tips in Bitcoins, Ethereum, NFT and the USDC digital dollar was introduced.
In general, Elon Musk is not the first time integrating cryptosystems into his companies. Let me remind you that in May 2021, Tesla offered the opportunity to pay for electric cars with bitcoins, but two months later the project was curtailed. However, from January 14, 2022, the company introduced payment in dogecoin cryptocurrency for Tesla merch. So, currently, you can buy a whistle in the form of the expected Cybertruck SUV with meme-coins. Previously, you could also buy a Tesla logo buckle and a Tesla Cyberquad for kids.
We should also note that one of the co-investors in the purchase of Twitter was the Binance crypto exchange, which, according to some information, has already created a special department whose task will be to study the use of cryptocurrencies in the Twitter social network.
So let’s wait, what will be the consequences of Elon Musk’s decision to strengthen crypto integration on Twitter, as well as cooperation with Binance, and what will they achieve together?
Sources:
https://www.analyticsinsight.net/everything-elon-musk-has-said-about-dogecoin-twitter/
It’s exciting to see Elon Musk’s involvement in crypto and blockchain technology and the potential impact it could have on Twitter. It will be interesting to see what comes from this collaboration with Binance.
Time will tell, but so far Musk’s run as CEO has been objectively poor, not an easy climate to enter, but still a poor performance to date.