- Elon Musk announces the creation of a Twitter content moderation council.
- Binance has vowed to help Twitter fight bots using blockchain technology.
- Twitter to allow NFT purchases via tweets
On Friday, Musk said that he had completed his takeover, dismissed top leadership, and replaced them with a new “content moderation council” that would bring together “diverse views” on the matter. “No major content decisions or account reinstatements will happen before the council convenes,” he added.
However, this hasn’t stopped users from either praising or condemning Musk’s promises to reduce moderating in an effort to foster free expression. One question that remains is how this will affect the cryptocurrency space.
Musk has indicated several times that his primary motivation for purchasing Twitter was to encourage free speech and open dialogue throughout the world. This is great news for the cryptocurrency community since Twitter has quickly become the hub of crypto-related cultural expression. Musk’s leniency ensures that businesses may continue utilizing the social media platform for expansion.
Musk has proposed adding cryptocurrency support to Twitter’s existing payment options. While he has been tight-lipped about specifics, he has alluded to the possibility that he may use payments to turn the service into an “everything app” that is “so compelling that you can’t live without it.”
Meanwhile, Twitter seems to be focusing on integrating crypto wallets into its infrastructure, suggesting the social media behemoth is already building tools aligned with Musk’s ambition. Musk has hinted several times that Twitter will support Dogecoin payments so that this development wouldn’t come as much of a surprise.
The eradication of bots also ranks high on Musk’s list of priorities. Twitter has become notorious for these scams that try to dupe cryptocurrency users off their holdings. Cryptocurrency exchange Binance plans to assist Musk with this mission by establishing an internal team to advise Twitter on how to combat bot accounts leveraging blockchain and cryptocurrency.
Meanwhile, Twitter stated on October 28 that it would be partnering with four exchanges to allow users to buy, sell, and showcase NFTs directly through tweets. Known as NFT Tweet Tiles, this integration displays the NFT’s artwork in a tiled panel within a tweet, with a link to the corresponding item on the marketplace.
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