Twitter co-founder Jack Dorsey and Musk discussed a Blockchain-based Twitter without ads
- Elon Musk discussed future plans for Twitter with tech giants.
- Twitter co-founded the idea of a decentralized twitter
Jack Dorsey, former CEO and co-founder of Twitter, apparently told Elon Musk that Twitter must be based on an “open source protocol and funded by a foundation.” Earlier, Musk had pulled out of the deal to buy the microblogging site for $44 billion; the board, in an attempt to enforce the first agreement, made it a legal affair.
As part of the legal process, Musk’s conversations with several high-profile investors in the technology industry are on display. Those high-profile names include Dorsey, Jason Calcanis, Larry Ellison and Sam Bankman Fried.
Dorsey referenced Signal to back up his point. “Little like what Signal has done … It can’t have an advertising model.” He explained that governments and entities can try to influence users who use advertising space. “If it has a centralized device behind it, it will be attacked,” he added.
The archive of text messages was highlighted by The New York Times reporter Kate Conger.
Musk liked Dorsey’s idea, calling it “super interesting.” The conversation is from the time when Dorsey was still on the board of Twitter. Dorsey added that instead of being controlled by a typical company, it should be publicly funded and that no control should be exercised over the underlying protocol.
Musk discussed the possibility of a blockchain-based replacement for Twitter that would focus on privacy and get rid of bots.
Twitter’s alleged failure to disclose the actual number of spam and bot accounts on the site was one of the reasons the Tesla founder based his decision to withdraw from the deal.
Sam Bankman Fried, CEO of FTX wrote to Musk on Twitter:
“Btw Elon,”
“Want to talk about Twitter. Also a post on how blockchain Twitter can work.”
Musk shared an idea about Twitter where the site will include a payment function: “do both payments and short text messages/links like Twitter.” Musk suggested that users would have to pay a small amount to post messages on the chain to get rid of most spammers and bots.
Anthony Rose’s name was suggested to Musk to lead the project. Rose is a former chief engineer at SpaceX and is currently head of engineering, Matter Labs.
Musk suggested using Dogecoin (0.1 Doge for every tweet and retweet), his favorite cryptocurrency, to pay for messages: “My plan B is a blockchain-based version of Twitter, where ‘tweets’ are embedded in the transaction as comments,” he wrote .
“The idea of free speech for blockchain has been around for a long time.” Musk added. “The questions are really about how to implement it.” Musk noted that bandwidth and latency requirements would be a key issue since a peer-to-peer network would not be able to support such a project “unless these ‘peers’ are absolutely gigantic, thus defeating the purpose of a decentralized network.”
Steve Anderson is an Australian crypto enthusiast. He has been a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralization, understanding the true potential of the blockchain.
