Will Elon Musk accept the “alternative Twitter” offer from ADA founder Cardano?
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Answer Will Elon Musk accept the “alternative Twitter” offer from ADA founder Cardano?
Elon Musk’s offer to buy Twitter has sparked a lot of discussion.
hung Charles Hoskinson, IOG CEO and founder of Cardano, said he’s open to helping Elon Musk build a decentralized social media platform should his Twitter offering fail.
Charles Hoskinson of Cardano shows building a decentralized Twitter with Elon Musk:
In a tweet, Hoskinson stated that the platform for building a decentralized Twitter will be across different blockchain networks such as Bitcoin, Doge, and Cardano.
This statement was echoed by Twitter user “Robobubo” who asked if the virtual platform would be limited to Cardano.
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Meanwhile, the leaders of other crypto ventures and companies also got into the idea of decentralizing and censorship-resistant Twitter.
Fred Sam Bankman, CEO and co-founder of FTX, shared some thoughts on what a decentralized version of Twitter could look like.
Bankman believes that the platform could allow users to post encrypted tweets on the network.
You can then monetize either the partial fee for posting tweets, or the user interface (UI).
In the end, either of the two monetization models will be beneficial to the platform.
On the other hand, Tron founder Justin Sun offered to bid on Elon Musk’s offer.
In a tweet, the Chinese businessman said he is offering $60 per share to make Twitter completely private.
He also said he shares Elon Musk’s vision for Twitter to become a decentralized platform.
What are Elon Musk’s plans for Twitter?
The past days have been exciting with Elon Musk, the world’s richest man and Twitter company.
The CEO of Tesla and SpaceX initially acquired 9.2% of the company and was about to become a member of the board of directors.
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But he refused a board seat at the last minute.
In the following days, Elon Musk submitted an offer to the SEC to buy Twitter for about $43 billion in cash.
He explained that for the platform to reach its full potential in supporting freedom of expression, it needed to transform into a private company.
The saga continues as Twitter has acknowledged receiving the non-binding proposal but has not reached a final decision.
Meanwhile, Elon Musk continues to lobby, saying that rejecting the offer would call into question the board’s level of responsibility to shareholders.
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