Elon Musk and Twitter, or X, are two factors that, for better or worse, are influencing the cryptocurrency market.
There are not a few times, when a post of his, causes turmoil in both prices and in the various communities. Lately, there has been talk, as well as a lot of buzz, about the “platform for everything” or the “Everything app”.
Everyday questions, have to do initially with the means of transaction on this platform, as well as what it can offer to our future and the future of each new generation. We will try in this article, to see what is really going on behind the development scenes of Elon Musk’s team.
X coins and what Elon Musk believes
At the beginning of all this, many believed that the cryptocurrency that would support Elon Musk’s long-term plans would be Dogecoin. But the multimillionaire’s withdrawal, from the support of the meme team, put an end to those scenarios and the chances of Dogecoin being the bargaining chip.
Then, some wanted to combine XRP with Elon Musk’s plans, reason of the letter X. Here we should clarify that this news has never been refuted, but Elon Musk has never commented on such a scenario either. So in this case, we are keeping some reservations.
Whatever the truth in this matter is, only Elon Musk himself knows it. Be that as it may, we have to inform you that today, a cryptocurrency called X2Coin was released.
XCoin was first released and everyone was quick to declare that Elon Musk has already created the large platform’s medium of exchange. Right now XCoin is a dead currency.
If you take a look at the decentralized exchanges, especially Uniswap, you will find dozens of XCoin. None of them have the trading volumes that Elon Musk’s actual cryptocurrencies would have.
So back to X2Coin, which was released today, and we should tell you this. Not one in a million could this currency be linked to Elon Musk. Just from the name alone, it’s blatantly obvious that this is another manipulated token.
It is advisable in such cases to look at the currency’s data as well as the confidence level of investors. In the case of X2Coin there is less than 2% confidence.
Let’s not forget what Elon Musk himself answered about the possibility of an XCoin.
Elon Musk Everything app – How could it change our future?
What does it mean to think about creating an “everything app” and why is Elon Musk thinking about it now?
The question came up after the billionaire CEO of Tesla Inc. now also owns Twitter.
Tech companies from around the world have tried to emulate the idea of an “app for everything”, also known as a “super app”, which is hugely popular in Asia. The super app, or what Musk refers to as the ‘Everything app’, offers users a variety of services such as text messaging, social networking, peer-to-peer payments and online shopping.
According to Scott Galloway, a marketing professor at New York University and co-host of the tech podcast “Pivot,” these large apps are commonly used in Asia because mobile is the primary method of accessing the internet for many people in the country.
Examples of Everything app
According to one estimate, the Chinese super app WeChat has more than 1 billion monthly users. It permeates every aspect of daily life in China. Users can pay for goods from merchants, send money to friends and relatives or enjoy a car or taxi. According to the South China Morning Post, WeChat was being tested in several Chinese cities in 2018 as an online identity mechanism that would be linked to users’ accounts.
Grab, a leading mega app in Southeast Asia, provides financial services, investment, on-demand package delivery, restaurant delivery and driving.
What are Musk’s plans for the Everything app?
Elon Musk mentioned that there is no super app like WeChat outside of Asia. This statement, during a Q&A session with his Twitter staff in June.
In China, “you pretty much live on WeChat,” he claimed, adding that he saw a market for such an app.
Moreover, Musk might be able to achieve his ambitious expansion plans for Twitter. This would be possible by enhancing its current tools and offerings.
Elon said he intended Twitter to grow from 237 million users to “at least a billion” during the Q&A.
What are Musk’s plans for the Everything app – Elon Musk
According to texts released during Twitter’s acquisition phase, Elon Musk and members of his inner circle discussed the idea of integrating digital payments into Twitter several times. The multimillionaire mentioned the idea of putting Twitter on the blockchain in text messages. He later seemed to realize that such a move would not be successful.
However, according to a company spokesperson, cryptocurrency exchange Binance, which contributed $500 million to Musk’s acquisition of the social media giant, is assembling a team to explore how blockchain technology and cryptocurrencies can benefit Twitter.
Would our society benefit from such an application?
If we took a poll, then the answers would be confusing. There are many who live their lives through technology, and the conveniences it offers. Especially young people.
But there are also the groups of people who believe that the overdevelopment of technology has already created problems in today’s societies.
A big example is the fact that today’s people have completely forgotten about personal and communicative contact.
Everything is now done through a mobile phone or a computer. Do we want clothes? We don’t waste time walking around the shops. We order them on the internet. Do we want food? We don’t waste time going to the supermarket or a nearby restaurant. We order it from the internet. We want to send money to someone. We don’t waste time and walk to visit a bank. We send it electronically from the internet over the phone. We want to talk to someone? We send a message because it’s a hassle to meet in person.
These are all the negatives that technology creates today. I wonder if Elon Musk has thought of these? Saving time or even money are of course some issues in which technology helps people in their daily lives. As you can understand, such an application could solve many everyday issues. But on the other hand, it could create a completely alienated society, with all the consequences.
Whether the answer is positive or negative is up to you.
