Ripple CTO explained Elon Musk’s desire to buy Twitter

David Schwartz believes that by using the social network, the head of Tesla planned to enhance the effectiveness of those political statements that he sympathizes with

20.04.2022 - 14:50

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2 min

What’s new? Ripple CTO David Schwartz commented on Elon Musk’s desire to acquire Twitter. Schwartz believes that the entrepreneur wanted not to optimize the platform, but intended to change the moderation policy. According to Ripple’s CTO, using the social network Musk planned to enhance the effectiveness of those political statements that he sympathizes with and vice versa.

Source: Twitter.com

Who else has commented on Musk’s actions? Ethereum blockchain co-founder Vitalik Buterin said that he has nothing against the Tesla CEO’s intentions to make Twitter a private company. However, Buterin believes that a takeover of social media by private individuals or organizations could set the wrong example for other investors.

Source: Twitter.com

What had happened before? Elon Musk offered to buy the social network for $43 billion, at $54,20 per share. After that, Cardano blockchain founder Charles Hoskinson stated that he is willing to help him create a decentralized version of Twitter. In early April, the head of Tesla and SpaceX acquired a 9,2% stake in Twitter worth $2,89 billion. Also on April 10, Musk proposed integrating payments in Dogecoin into the social network to pay for a Twitter Blue subscription. However, Twitter chief Parag Agrawal stated that Musk will not join the company’s board of directors.

What is known about Ripple? It is a company that develops solutions for payment systems. It has a closed blockchain called RippleNET, which uses the XRP token.

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