Blockchain
On Friday, October 28, the world’s richest man Elon Musk efficiently accomplished his deal to accumulate Twitter. Rather a lot has been taking place within the area since with Musk saying some content material moderation plans and rather more.
As per the newest particulars. Sam Bankman-Fried, chief of crypto change FTX had proven some early curiosity in investing in Twitter when Musk was buying an enormous stake round March this yr. As per a collection of Musk’s non-public texts made public throughout Twitter’s lawsuit, the FTX chief had proven curiosity in implementing blockchain know-how on Twitter.
Will MacAskill, a prime advisor to Bankman-Fried, texted Musk on behalf of SBF. On March 29, he messaged Musk writing:
“I’m undecided if that is what’s in your thoughts, however my collaborator Sam Bankman-Fried has for some time been doubtlessly fascinated by buying it after which making it higher for the world.”
Curiously, Musk responded again asking whether or not SBF had “enormous quantities of cash?” MacAskill responded by saying that SBF was value a staggering $24 billion at the moment and was prepared to take a position anyplace between $8 billion to $15 billion.
Musk and SBF’s Alternate of Texts Over Twitter
In April, Musk exchanged just a few textual content messages with FTX chief Sam Bankman-Fried. Among the prime executives from the crypto and the banking area obtained in contact with Musk explaining if he can get on widespread floor with SBF who had a grand imaginative and prescient on blockchain and social media integration.
However Musk turned down the concept saying that he wasn’t fascinated by a “laborious blockchain debate” with SBF. Chatting with Morgan Stanley banker Michael Grimes, Musk defined:
“Blockchain Twitter isn’t attainable, because the bandwidth and latency necessities can’t be supported by a peer-to-peer community, until these ‘friends’ are completely gigantic, thus defeating the aim of a decentralized community”.
Many leaders have proven curiosity in constructing social media platforms on a blockchain platform. These leaders imagine that blockchain would assist democratize consumer information. Nevertheless, not sufficient work has occurred on this route thus far.