Musk also made a pretty decent deal to the founder of Twitter and the board members, which would have convinced them to let go of Twitter, but instead, it backfired pretty bad.
Musk to Face Lawsuits from Twitter Board Members
Musk is facing lawsuits from the board members of Twitter for his bold move towards the purchase of Twitter and posing irregularities within the current structure of the company and how derailed the development team has done the service.
CEO of the FTX, Sam Bankman Fried, asked Musk during their earlier intervention of buying Twitter off if they could shift the whole thing into decentralization if the prospect of a blockchain-based Twitter was indeed possible.
And this is before the offer was turned down, Musk replied a bit negatively to the idea, and he turned it down completely by saying that the likes of it happening are extremely small and the chances are narrow at best.
According to Musk, if the idea is to be executed, then a perfect peer-to-peer network is to be established that has sumptuous latency and bandwidth, and that is a pretty impossible task to pull off. In some instances, either the latency or the bandwidth is going to tank, and in both cases, the continuity of the social media platform can’t be guaranteed.
He also proposed a pretty erratic solution to the issue in the form of gigantic decentralized networks, but that puts a hole right into the integrity of the networks being decentralized hence the hesitancy towards pulling off this task.
But now, when the deal is off the table and Musk is no longer interested in buying Twitter for the foreseeable future, it naturally means that there is no discussion spewing in the open world about turning a social media platform into a decentralized element. Guess the idea would be back in the works if another visionary like Musk or Musk himself pursued the idea.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at firstname.lastname@example.org if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.