Elon Musk Hints Twitter Will Integrate Crypto Payments if His Takeover Bid Is Successful – Featured Bitcoin News

Tesla CEO Elon Musk has instructed integrating crypto funds into Twitter. “My objective could be to maximise the usefulness of the service,” he informed Twitter’s staff in his first all-hands assembly with them.

Twitter’s First All-Arms Assembly With Elon Musk, Integrating Crypto Funds

Tesla and Spacex CEO Elon Musk, who might grow to be the brand new proprietor of Twitter Inc., had his first all-hands assembly with Twitter’s staff Thursday.

Musk answered many questions on how he plans to run the social media firm if his bid to purchase Twitter is profitable. Nevertheless, the $44 billion deal is at the moment on maintain, and Musk has accused Twitter of a fabric breach of the merger settlement.

Throughout the assembly, Musk talked about crypto just a few instances, in keeping with a leaked transcript of the assembly and a leaked video posted by Mission Veritas.

Leslie Berland, Twitter’s chief advertising officer, requested Musk: “Are you able to speak slightly bit about Twitter and funds?”

The Tesla boss started by stating that “cash is basically a type of data,” including that it’s “basically digital.” He added:

I feel it might make sense to combine funds into Twitter in order that it’s simple to ship cash forwards and backwards, and fiat foreign money in addition to crypto — primarily, no matter someone would discover helpful.

“So my objective could be to maximise the usefulness of the service — the extra helpful it’s, the higher. And if one can use it to make handy funds, that’s a rise in usefulness,” he clarified.

Crypto Scams and Spam Accounts

Berland additionally requested Musk about some issues he sees with Twitter. The Tesla CEO replied:

There’s undoubtedly an ongoing problem with Twitter with bot accounts and spam accounts. There’s various crypto scams on Twitter.

“It’s gotten higher, however there’s nonetheless a good bit of that,” he continued. “There are additionally individuals the place they’re not essentially bots, however they may be working. You understand, one particular person’s working a whole bunch of accounts and making an attempt to make them seem like people, however they’re not.”

Musk beforehand mentioned that the spam bot is the single most annoying drawback on Twitter and he vowed to defeat it “or die making an attempt,” if his bid to purchase the social media platform succeeds.

Transparency, Belief, and Free Speech

Musk additional defined to Twitter’s staff: “I feel it’s extraordinarily necessary that there be transparency. In order that’s why I’m an advocate of getting the algorithm be open supply so that folks can critique it, enhance it, establish bugs, probably, or bias.”

Noting that “transparency clearly will increase belief,” the Spacex boss emphasised:

I feel that belief is extraordinarily necessary, after which simply the usefulness of the system — eliminating type of troll farms and bots and spam is extremely necessary.

Relating to free speech, Musk mentioned: “I feel it’s important to have free speech and to have the ability to talk freely … It’s free speech inside the context of the legislation. So I’m not speaking about suggesting that we simply flout the legislation, as a result of we’ll simply get shut down in that case.”

What do you consider how Elon Musk will run Twitter? Tell us within the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

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