Elon Musk wants Twitter payments system built with crypto

Elon Musk wants Twitter payments system built with crypto - Check out the story here

[{"selector":"#anim-1f1f4015-b4d8-4a09-b872-0526401cc7a0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.83069857939285%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Twitter’s upcoming payments tool will initially support only fiat currencies, but Elon Musk wants it built to potentially support crypto in the future. Arrow

[{"selector":"#anim-3b0bef34-65a0-4b72-8271-2411080fc836 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. Arrow

[{"selector":"#anim-0b069448-4ecf-4d00-9afc-6707d8b593f8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to a Jan. 30 Financial Times report, two people familiar with Twitter’s plans said that the payments feature will support fiat currencies to start but be built to accommodate cryptocurrencies should the opportunity arise. Arrow

Twitter has long teased bringing payments to the social media platform — forming part of Musk’s stated plan to make Twitter an “everything app.”

[{"selector":"#anim-c54aa825-d0dd-46ac-83c0-fea6fdd062c3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

[{"selector":"#anim-49871129-807d-4aef-be5d-dea2a1a5973e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.25191393278695%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] However, it has remained vague as to whether these payments will involve blockchain or crypto technology, despite the Twitter CEO seeing a big role for crypto on Twitter. Arrow

However, the more recently leaked images of the project in early January made no mention of crypto or blockchain technology, much to the dismay of the community.

[{"selector":"#anim-8eee75a6-0df0-4dbe-bede-90593fb8af58 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Arrow

Unconfirmed rumors also emerged last October that Twitter was working on a wallet prototype that would support crypto deposits and withdrawals.

[{"selector":"#anim-7f6b9b32-a62b-405c-b7ba-13182ac00dad [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

However, it appears for the time being, the payments system will go ahead with only fiat support.

[{"selector":"#anim-ee228926-7a9f-4d66-8295-1aaeb87808b9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

Twitter has begun the application process for state-based regulatory licenses across the United States that would allow it to introduce payments to the platform.

[{"selector":"#anim-8a5f8246-a0a0-4c1c-ba78-dff870e2c54b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

[{"selector":"#anim-a329cb5d-76e8-4176-b701-8f3c2aa3765a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow SWIPE UP