Elon Musk’s X Platform Plans to Launch Peer-to-Peer Payments in 2024
Elon Musk’s X platform, formerly known as Twitter, has announced its goals for 2024. One of the key highlights is the introduction of peer-to-peer payments by the end of this year. Although no specific details have been provided, this move aligns with X’s mission to become an all-in-one app.
Enhancing User Experience with AI and Improved Advertisements
In addition to peer-to-peer payments, X also aims to leverage Artificial Intelligence (AI) to enhance the user experience and improve advertisements through better customer understanding. These goals reflect Elon Musk’s vision of transforming the platform into an “app for everything,” as previously mentioned in November 2022.
Past Speculations and Rumors about Payments and Cryptocurrencies on Twitter
This is not the first time that peer-to-peer payments and cryptocurrencies have been discussed in relation to the platform. In early 2023, rumors circulated about Twitter’s integration of digital payments through a feature called Coins in collaboration with Stripe. Additionally, there were speculations about Twitter becoming a PayPal-like platform due to Elon Musk’s involvement and the social network’s financial situation after its acquisition.
The potential involvement of Dogecoin, a meme cryptocurrency, was also speculated upon, especially when Elon Musk temporarily changed Twitter’s logo to feature the DOGE crypto dog in April 2023.
X’s Stance on Launching Its Own Cryptocurrency
While X plans to launch peer-to-peer payments, it has clarified that it will not create its own cryptocurrency. Instead, if X decides to incorporate cryptocurrencies, it would integrate an existing cryptocurrency for its payment system. Elon Musk himself stated in August 2023 that “X will never launch its own crypto.”
Hot Take: Elon Musk’s X Platform Sets Ambitious Goals for 2024
Elon Musk’s X platform is aiming high with its goals for 2024. The introduction of peer-to-peer payments and the potential integration of cryptocurrencies demonstrate X’s commitment to expanding its services and becoming a comprehensive app. By leveraging AI, X also aims to enhance user experience and advertising capabilities. Although previous rumors and speculations have circulated about payments and cryptocurrencies on Twitter, the official announcement solidifies X’s plans for the future. As we eagerly anticipate these developments, it remains to be seen how X will revolutionize the way we use social media platforms.
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