Elon Musk Foresees X.com Becoming a Major Player in Global Finance Through Dogecoin Payments
In Brief
Elon Musk, CEO of SpaceX and Tesla, recently suggested via Twitter that X.com, his online financial services company, could become a significant part of the global financial system, potentially through strategic use of Dogecoin. The cryptic tweet hinted at X.com’s potential to shape global finance, especially if Dogecoin is successfully implemented as a payment method.
Elon Musk shared his perspective on the future role of X.com, his resurrected online financial services and e-mail payment company, in the global financial system. In a cryptic tweet, Musk hinted at a potential significant move for Dogecoin, a popular digital currency.
The tech magnate posted on his Twitter, “If done right, 𝕏 would become half of the globe financial system.” With a distinctive style, Musk coded his message where ‘𝕏’ symbolizes X.com. Additionally, he included the sign ‘Ð’, which stands for Dogecoin, followed by the hashtag ‘#DOGE Payment’.
Elon Musk, the world’s wealthiest individual and the new owner of Twitter, has unveiled a significant rebranding of the social media giant, revealing its new identity as ‘X’. This change is a step towards realizing Musk’s vision of creating “X, the everything app”, a concept seemingly inspired by China’s integrated platform, WeChat.
The CEO of the company, Linda Yaccarino, showcased the new X logo via a post on the platform, with an image of the fresh icon projected onto the company’s headquarters in San Francisco, California. “Lights. Camera. X!” Yaccarino captioned the image.
Our headquarters tonight pic.twitter.com/GO6yY8R7fO
— Elon Musk (@elonmusk) July 24, 2023
Dogecoin and X.com
Musk himself also shared an image of the new emblem gracing the company’s main office. When queried about what tweets would now be called under the new brand, he responded with “x’s”.
This rebranding was anticipated after Musk, who purchased Twitter for $44 billion (£38bn) last October, hinted at an imminent makeover for the platform over the weekend. The official corporate name, Twitter Inc, had already transitioned to X Corp back in April.
Musk’s vision for ‘X’ aims to create an all-in-one application, consolidating various functionalities such as messaging, payments, a marketplace, and public posts. His ambition for ‘X’ precedes his acquisition of Twitter, drawing parallels with the comprehensive nature of China’s WeChat platform.
Yaccarino confirmed this strategy in her statement on Sunday. “X is the future of unlimited interactivity,” she said, centered on “audio, video, messaging, payments/banking” and “powered by AI”.
Musk, who launched his own artificial intelligence startup called xAI earlier this year, intends to integrate it with his existing companies, including Tesla and the newly rebranded Twitter ‘X’. This move signifies the unfolding of a new chapter in social media and technology, driven by Musk’s innovative vision.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
