After months of dramatic back-and-forth, Elon Musk took control of Twitter Inc., sparking emotions ranging from hope to anxiety among users preparing to see how the billionaire will make his mark on the social media platform. and Crypto Twitter is no exception.
Digital asset enthusiasts have long flocked to Twitter, where they swapped their profile pictures for images of themselves with "laser eyes" as a sign of their crypto support, posted irreverent memes about the rise (and then fall) of coin prices and re-tweeted threads from your favorite founders.
Musk, a prolific tweeter, has had a complicated relationship with cryptocurrencies, seeming to hug them for a minute and belittle them the next.That has not prevented the supporters of the industry imagine an expansion of the functions of the chain of blocks Twitter under his direction that would expand the widespread adoption.It is likely that your euphoria has helped to increase interest in Dogecoin, the token chosen by Musk, who was fired days before it finally sealed the deal.
Twitter has made their own forays into the cryptocurrencies.The co-founder and former executive Jack Dorsey is one of the executives of Bitcoin''s most well-known industry and under his leadership, the company introduced a feature to allow users to receive tips in Bitcoin, created a division of Twitter Crypto and began Bluesky, a project dedicated to building a social network is decentralized is now an independent company.Since the departure of Dorsey in November last year, Twitter has added tips of Ether, the images of the profile tabs are not expendable and payments of a stable currency USD Coin for a select group of creators.
It is not clear what will happen with these efforts, under the leadership of Musk, who has been notoriously fickle with regard to cryptocurrencies, and you can delete the computer from digital assets to the platform as other executives from high profile range.While the CEO of Tesla Inc.you've promoted Dogecoin on Twitter enough to earn the nickname "the Dogefather", called the token "a bustle" when presented with "Saturday Night Live" in May of 2021.Also added the ability to pay in Bitcoin.for electric vehicles, Tesla in 2021, but he ended the practice less than two months later, citing the environmental impact of the cryptocurrency.
When assembling the acquisition of Twitter, Musk seemed to waver in his commitment to cryptocurrencies.Binance Holdings Ltd.,the world's largest exchange of digital assets, pledged $500 million for the financing of Musk to the agreement in May and, according to reports, is forming a team focused on exploring how cryptocurrencies could be useful for the company in social networks.In a treasure-trove of text messages released as part of the dispute over the agreement on Twitter, Musk initially discussed the use of blockchain to promote freedom of expression and to reduce the spam on social networks, just to write later that "Blockchain Twitter is not possible."
But if Musk decided that cryptocurrencies play a more important role on Twitter, here are some ways in which you might do it:
The bots and the spam on Twitter are major weak points for Musk and helped spur a controversial legal battle that put in danger the acquisition of the company.The problem is particularly important in cryptocurrencies, where the spam accounts posing as famous figures like Musk to promote scams involving gift cryptographic false.But some enthusiasts of the digital assets that they believe that the use of blockchain could help reduce the bots on Twitter.A tool for verification of identity based on blockchain or a passport NFT could be options to promote the objective of Musk, of wangting "to authenticate to all the real human" on Twitter.
Freedom of expression is close to the heart of Musk, and you have the intention to lift the bans for the life of the company to users. These values align with those of many crypto believers dedicated to the spirit of decentralization promoted by blockchain. They think that a single entity should not make important decisions about how it's given a platform. While Musk could potentially implement a voting system based on tokens that allow users to have more of a say about what happens on Twitter, it is important to note that sti potential adoption of cryptocurrencies is a double-edged sword. If you add more items cryptographic Twitter could expand the widespread use of digital assets, to further strengthen the influence of Musk in an industry that many want it to be as decentralized as possible.
Musk has already expressed his ambition of turning Twitter into a "super app" and spoke admirably of the WeChat platform in China, which can handle messages, games, payments and video transmission.With other aspiring creators of super apps like Revolut Ltd.expanding to cryptocurrencies, it would make sense if the vision Musk also include digital assets.Allow more cryptocurrencies to give gratuities could be a first step, and Dogecoin is probably the primary candidate because Musk''s love for the token.
Other mainstream social media platforms like Instagram are dipping deeper into NFTs. Although Musk has quickly these assets in the past, including Twitter's decision to allow authenticated NFT profile pictures, I could enter more NFT features, such as a marketplace or the ability for users to create a profile represented by an NFT that allows them to use it. grants greater ownership over your content, a practice already implemented by decentralized social media platform Lens Protocol. These measures could ensure that Twitter does not fall behind other social media giants in terms of cryptocurrency adoption.
Although the integration of these elements of blockchain would be a complex task, and closely monitored for Twitter, the new reign of Musk still opens the potential for that to become a reality.
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