Here’s What Elon Musk Said About Crypto During Twitter Meeting

June 16, 2022 11:07 pm

CEO of Tesla and soon-to-be owner of Twitter just held his first online meeting with Twitter employees and in true Elon fashion he brought up the topic of cryptocurrency.

Musk stated that integrating digital payment methods into Twitter “makes sense” and he would go on to say money is inherently digital at this moment and has been for a long.

The world’s richest man would go on to say “It would make sense to integrate payments into Twitter so it’s easy to send money back and forth”.

Besides talking about payment methods, Musk also stated that algorithmic scam bots looking to promote scam coins would also be taking off of Twitter on his watch.

Crypto Briefing added these details:

Elon Musk held his first full meeting with Twitter employees on Thursday. There, he discussed his plans for cryptocurrency and other changes following his planned takeover of the social network. During the meeting, Musk confirmed that cryptocurrency payments are one feature that could be added to Twitter.

Musk said that it “would make sense to integrate payments into Twitter so that it’s easy to send money back and forth” and that such plans could involve “currency as well as crypto.”

Though Twitter added Bitcoin tipping under former CEO Jack Dorsey in 2021, Musk’s vision seems to be more comprehensive. Musk said he would “maximize the usefulness of the service” by making “Twitter so compelling that you can’t live without it.” He called payments one of three critical areas alongside news and entertainment.

Musk also noted that “money is fundamentally digital at this point, and has been for a while” and drew comparisons to PayPal.

Previously, Musk hinted at cryptocurrency payments on Twitter but did not describe a thorough plan. His earliest statements simply read: “Maybe even an option to pay in Doge[coin]?”

Musk also emphasized that Twitter needed to allow users to exercise their free speech on the platform.

Tech Crunch dropped these details:

As Elon Musk addressed Twitter employees for the first time in an all-hands Q&A meeting, the Tesla and SpaceX CEO provided some more details about his plans for the social platform.

When Musk first announced his bid to buy Twitter for $44 billion, he proposed the idea of “authenticating all humans” on Twitter. As we’re well aware, one of his biggest grievances with the platform is its bots and fake accounts.

Today, Musk elaborated on what this plan might entail and clarified that he doesn’t think human authentication is a requirement to use Twitter. He added that anonymity can be helpful for people to freely express their political views, which is a priority for him.

According to Bloomberg, Musk proposed an idea that users could pay to be authenticated as human through a tool like the subscription product Twitter Blue, and that those users’ tweets might then be ranked above others.

Regarding content moderation, Musk stayed true to his previous statements that people should be able to say “pretty outrageous things” as long as those statements are legal.

 

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