Elon Musk has become Twitter’s new CEO, having struck a $ 44 billion deal with the company. Binance, which is the largest cryptocurrency exchange in the world by market capitalization, backed Musk with $ 500 million. Now, the co-investor in Twitter’s new CEO is building a team with purpose.
Help Twitter grow with blockchain technology
According to a recent Financial Post article, Binance is currently building a team for Twitter. The latter will lead thoughts on how Twitter can use blockchain technology, with cryptocurrencies in particular to develop further. This information comes from recent statements by the company spokesperson.
It must be said that the Binance exchange had said it would conduct discussions to establish plans and strategies that could facilitate the management of Twitter for Elon Musk. Binance’s team is expected to find blockchain-based solutions to solve the social network’s problems soon.
Binance should specifically helps Twitter tackle the proliferation of bot accounts. This problem, which Musk has always considered very serious, had been the cause of the termination of the negotiations for the acquisition of Twitter. The Tesla boss seems to really want it fixed as soon as possible.
Make an old social networking project a reality
When co-founder Jack Dorsey was still the company’s CEO, Twitter was already thinking about how to use blockchain in its ecosystem. The platform even launched an in-house team of cryptocurrency specialists in November 2021. The latter had to create functionality from blockchain technology and cryptocurrencies.
Later, Twitter was equipped with a feature that allowed paid subscribers to use an NFT as their avatar photo. We have learned that Elon Musk, meanwhile, has been considering the idea of placing Twitter on the blockchain. However, he ultimately decided that this couldn’t be done.
This Thursday, Elon Musk officially closed the Twitter acquisition deal. He soon took over the company and fired his key senior executives. Elon Musk just became Twitter boss when actions have already been implemented to make the platform more dynamic. Everything suggests that the social network will undergo significant changes in the days to come.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.