Elon Musk Wanted a Social App Powered by Dogecoin

Elon Musk was even in discussions with the founder of a failed crypto exchange for a billion-dollar deal.
Elon Musk Wanted a Social App Powered by Dogecoin

While the most-awaited biography of tech giant Elon Musk is about to launch, its writer Walter Isaacson shared some unheard and surprising desires of him, just as developing blockchain-based Twitter with Dogecoin payments. 

Before the launch of the upcoming tech mogul’s biography on September 12, Walter Isaacson shared some glimpses and behind-the-scenes from Elon Musk’s life. 

Walter Isaacson stated that Elon Musk’s brother Kimbal shared the idea of developing a blockchain-based social media platform. While discussing, Elon Musk sarcastically suggested integrating the Dogecoin payment system into the imaginary platform. 

During the interview, another rumor was confirmed: Elon Musk has indeed been a significant supporter and financial contributor to Dogecoin, solidifying its official status.

In another surprising fact, Elon Musk fell into the discussion of a billion-dollar deal with sam bankman-fried, a founder of bankrupt crypto exchange FTX. SBF wanted to be a part of Elon Musk’s blockchain-based social media platform and shared his engineering expertise for it. He was also ready to invest $5 billion in the project. 

However, after realizing that Elon Musk is “nuts”, SBF turned its head away from the deal and dropped the idea of investing in the project. 

On the flip side, Elon Musk Scratched the plan by citing the inefficiency of blockchain in handling enormous amounts of postings. He said to his banker Morgan Stanley that “Blockchain Twitter isn’t possible, as the bandwidth and latency requirements cannot be supported by a peer-to-peer network.”

Also Read: Elon Musk Puts Rumors to Rest: X Denies Crypto Token Launch

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