Twitter's destiny, pointing to Web3?

The former is the leading business media in the United States, while the latter is one of the world's largest social media giants. Although the properties of these two companies are different, they are both media in a broad sense, and if you control them, you have the power of "mass evangelism".

In February, Binance invested $200 million in Forbes, and while Zhao Changpeng said it would not affect the independence of Forbes' content, it is clear that Forbes is increasingly including the names of the Web3 billionaires on its various lists. In March of that year, Changpeng Zhao was featured on the cover of Forbes magazine with a $74 billion fortune.

Before April was even half over, Forbes grabbed another Web3 business of its own. After launching the virtual millionaire NFT, Forbes also featured Chris Dixon, a partner at a16z, one of the most prominent crypto investors in the US, on its own front cover.

Musk and Zhao Changpeng have previously been interacting on Twitter. This may have given Musk, the "Godfather of Dogcoin," the idea to buy Twitter and turn it into a privatized company that would allow him to exert his influence. Zhao Changpeng is not the only crypto friend who influenced Musk. Two of his most popular friends, Twitter founder Jack Dorsey and Robinhood founder Vladimir Tenev, have interacted with him more closely offline and online. Like Musk, both are tech elites, and both are ALL in Web3.

Jack Dorsey, in addition to his layer of being the head of Twitter, one of the world's largest social media platforms, is also the head of Square. square, known as the US version of Alipay, is the leading US payment company, and changed its name directly to Block last year to go full Web3.

Jack Dorsey is a determined decentralized entrepreneur. Last year he left Twitter, which he founded, and in this year he has repeatedly said: I am responsible for Twitter's defiance of its original purpose leading to the centralization of the Internet. This may have something to do with Twitter's conservative board of directors, and since 2019, Jack Dorsey has been pushing the BlueSky project, which aims to create a set of open-source, decentralized community platform standards and decentralize the now highly centralized community platform side. However, Jack Dorsey is not satisfied with the current over-centralized status quo of Twitter.

In fact, during Jack Dorsey's years as CEO, he has made many contributions to Web3. For example, he launched Twitter Space, which a large number of Web3 practitioners use for online communication; for example, he was the first to launch the NFT product released by the Internet giant, so that Twitter user avatars can be displayed as NFT and be authenticated; for example, almost all people in crypto circles have a Twitter account, and every crypto project registers an account with Twitter and posting links.

Twitter, undoubtedly, is the most pioneering and influential Internet giant connecting Web2 and Web3. Google, Amazon, and Meta have been telling users that they will build NFT platforms and research cryptocurrencies, yet they have not actually seen any products or results come out so far. This may be part of the reason why Musk bought Twitter, which is more advanced in Web3 than other Internet companies, and the actual leadership of Twitter still inherits the spirit of "decentralization" from Jack Dorsey. The new CEO of Twitter is now the head of the BlueSky team, and he promises to continue exploring decentralization.

Jack Dorsey has effectively left Musk with a team that has the spirit of Web3, and Musk is going to do what he has to do: spend a lot of money to get rid of people on Twitter's board who don't want to innovate.

After Musk expressed his determination to buy Twitter, his other good friend Robinhood founder Vladimir Tenev duly expressed his views on DOGE today (April 15). He suggested that DOGE increase the block size limit to increase the speed of transactions. Currently DOGE has a throughput of about 40 transactions per second, while Visa processes about 65,000 transactions per second and Alipay can process 140,000 transactions per second. In comparison, DOGE's processing efficiency is simply too low. Musk agrees with Vladimir Tenev's view. His good friend founded Robinhood, the Chinese equivalent of Citic Securities or Oriental Fortune, previously known as the "home of the American retail investor". The company is now focusing more on providing people with the ability to trade digital currencies like bitcoin. "Bitcoin is by far the most commonly purchased asset at Robinhood in 2022." Aparna Chennapragada, the company's product chief, said last week (April 2022).

With so many friends who believe in Web3, Musk naturally has his ear to the ground. In fact, whether it's cryptocurrency or NFT, Musk is playing it like a thief. He himself has announced that he is selling a music NFT, and his ex-girlfriend Grimes has sold several pieces of NFT art for nearly $6 million.

Of course, both cryptocurrencies and NFTs carry financial attributes, are extremely risky, and have no value to the vast majority of Chinese people. The valuable point is that Musk can turn Twitter into a more decentralized product, which will not be deleted at will and every piece of data belongs to the user. However, half a month has passed since the incident occurred, but the official has not yet replied. This is actually the drawback of the centralized products of the Internet, our private behavior on the Internet is monitored by the Internet giants. Our private data, sold to other vendors by centralized products, is also a difficult thing to trace. And each person's own output is valuable data that private individuals can sell to banks and hospitals to benefit from, yet centralized companies often keep it for themselves and keep it to themselves, rather than sharing the benefits of the data with users.

"If we could increase trust in Twitter as a public platform, the risk of civilization would be reduced." Musk said. This may be the significance of the Web3ization of Twitter, as a centralized platform, it is easy to be used by those in power as a tool for their own money, while as a decentralized platform or partially decentralized platform, it will be institutionally eliminated or partially eliminated because of the private interests of some people to change the behavior of the public platform, so that each user has the right to be able to freely grasp and use their own data.

Twitter is currently the most Web3 Internet giant, and the addition of Musk will make it even more Web3?