Recall that Elon Musk bought 9.2% of Twitter. Soon he offered to reduce the subscription price Twitter Blue and enable users to pay for a premium service in Dogecoin (DOGE).
He also wrote a series of tweets with their suggestions. For example, give each Twitter Blue subscriber an “authentication checkmark”. He also suggested that the platform stop advertising, as it “reinforces the power of corporations to dictate the rules.”
Immediately, users began to offer their own options for innovations. For example, introduce a regional pricing policy, as the $3 subscription price is too high for some countries.
Maybe even an option to pay in Doge?
— Elon Musk (@elonmusk) April 10, 2022
“[Подписка] must be affordable and in local currency. Maybe even add a payment option to DOGE?” Tesla CEO said.
Now subscribed Twitter Blue available in the USA, Canada, Australia and New Zealand.
Joined the discussion and the former top manager of Goldman Sachs Raul Pal. He assured that “the only way to make Twitter work is to create a system of tokens.”
“People who add value to the network receive tokens, how it goes on reddit, and the community decides on the issue of accreditation. The token economy is probably worth 10 times the shares as it creates a tangible community or brand asset,” he explained.
According to investor Stephen Cole, Twitter may not “reinvent the wheel” because bitcoin already exists.
@elonmusk the way to get Twitter to work is to create a token system. People who add value to the network get tokens like Reddit and community this decides accreditation. The token economy is probably worth 10x the equity value as it creates a tangible asset of community/brand.
— Raoul Pal (@RaoulGMI) April 10, 2022
“… Just use bitcoin in conjunction with the Lightning Network. Kill spam and scams by charging registration fees,” he wrote.
A similar opinion was expressed by the ex-director of strategic development of Blockstream Samson Moe. Payments through the Lightning Network, he believes, will allow account holders to remain anonymous.
You have to take #Bitcoin Lightning payments then. Otherwise you wouldn’t allow for anon accounts to authenticate.
— Samson Mow (@Excellion) April 10, 2022
Now the head of Tesla is the largest shareholder of the company, so we will see how soon these innovations will be implemented.