10/10/2022 | https://www.analyticsinsight.net
WILL DOGECOIN BE A PART OF ELON MUSK’S X, THE EVERYTHING APP?
Billionaire Elon Musk teased his plans to create a mysterious app dubbed “X” on Wednesday, hours after he reversed course and offered to buy Twitter at its original price of US$44 billion. Musk has provided few details about his plans for “X” despite hinting about its development on multiple occasions in the last year. The Tesla CEO’s latest comment indicates he sees Twitter’s platform as a key building block. Similarly, will Dogecoin be a part of Elon Musk’s X, the Everything App? “Buying Twitter is an accelerant to creating X, the everything app,” Musk tweeted in his first public confirmation of the proposal. Musk added that his acquisition of Twitter “probably accelerates X by 3 to 5 years, but I could be wrong.” The most recent hint about Musk’s vision for an “X” app surfaced in August when one of his Twitter followers asked if he had considered creating his own social media platform. Musk had been trying to back out of a deal to buy the social media business but announced a surprise reversal on Tuesday, saying he would purchase the company at US$54.20 per share. He was facing a court battle as Twitter pressed him to go through with the takeover. Musk, the world’s richest man who is worth US$220bn, gave no details of what his “X” app would look like, but he claimed to buy Twitter “accelerates X by three to five years, but I could be wrong”. He has previously expressed an interest in creating a “super app” similar to China’s WeChat. WeChat, which is used by more than 1 billion people in China, combines instant messaging, video calls, and mobile payments. While Musk hasn’t elaborated on what form the “X” app will take, Bloomberg noted that he has praised the Tencent-owned social media app WeChat, which allows users access to services ranging from payments to food delivery to ordering cars. Conversely, WeChat is widely viewed as a government surveillance tool in China that is also subject to heavy censorship, even as Musk has touted his plans to remake Twitter as a beacon of free speech. Similar “super apps” offering more than just basic social media services are prevalent in other parts of Asia, including the Grab app in Singapore and Malaysia and Line in Japan, according to CNN. Musk expressed his affinity for WeChat and other so-called “super apps” during a town hall meeting with Twitter employees in June – referring to the Chinese platform as “great.” As all the leading cryptocurrencies get hammered, Tesla CEO Elon Musk has said he will keep supporting and buying Dogecoin, a cryptocurrency he has been vouching about for years. On that note, will Dogecoin be part of Elon Musk’s X?