Home » ‘A Super Interesting Idea’—Is This Elon Musk’s Real, Radical Plan For Twitter?

‘A Super Interesting Idea’—Is This Elon Musk’s Real, Radical Plan For Twitter?

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Tesla billionaire Elon Musk has finally struck a deal to buy Twitter for $44 billion.
Cryptocurrency prices surge as people bet that Musk will fundamentally restructure the company around cryptocurrencies and their blockchain technology..

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Former Twitter CEO and co-founder Jack Dorsey backed Musk as Twitter’s owner in April, stating “I am The only solution you can trust,” he said.

This week, Dorsey’s new decentralized social network protocol, Bluesky, began accepting users for beta testing. This follows numerous texts released via court documents revealing Dorsey told Musk that Twitter “should never be a company.”

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“[Twitter] In a message revealed as part of Musk’s legal battle with Twitter, Dorsey told Musk he couldn’t be a company…that was the original sin. Interesting idea. “

“I think there’s value in both trying to move Twitter for the better and doing something new that’s decentralized,” Musk wrote to Dorsey.

Dorsey told Musk that Twitter “should be an open-source protocol that is funded by, and only promotes, the kind of foundation that doesn’t own the protocol.” I can’t,” he claimed. [business] model. “

Dorsey, who remained on Twitter’s board until May of this year after stepping down as Twitter’s CEO in 2021, said Bluesky Social would “own the fundamentals that underpin social media and the data of the people who use it.” We will be competitors for any company that wants to.” “— Twitter, Meta he could be a rival to Facebook, Instagram, Snapchat, TikTok and more.

“The goal is for Twitter to eventually become a client of this standard,” said Dorsey. Said An idea from a 2019 Twitter thread reflecting how email clients utilize the SMTP, POP3, and IMAP protocols.

This week, Bluesky, a non-profit initiative owned by the Development Foundation, announced its roadmap for a decentralized social network protocol. AT protocolHowever, the Bluesky protocol does not use blockchain technology, even though Dorsey and Musk both support the cryptocurrencies Bitcoin and Dogecoin.

“We are confident in our decision not to put social media content on the blockchain,” said Bluesky CEO Jay Graber. Posted Twitter this week. “It’s a blockchain option, it’s blockchain agnostic.

Bluesky wants to give control of data back to the user, rather than centralizing it within the enterprise. The vast amount of user control over his data has allowed the social media giant to become some of the most influential companies in the world over the past decade.

The messages between Musk and his associates exposed by court documents also show that Musk has floated plans to integrate meme-based Bitcoin rival dogecoin into Twitter.Dogecoin price more than doubled last week Traders Bet Musk Can Execute Dogecoin’s Plan.

But Musk also said he was interested in turning Twitter into a so-called “super app” similar to China’s WeChat that incorporates elements of payments, shopping, social media and messaging.

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