🚨 𝗡𝗲𝘄𝘀: Elon Musk posted that X will roll out a payments service "X Money". And Musk replied to a Tesla posting: "When people's saving are involved, extreme care must be taken." Yes, darling, you are the most trusted caretaker 🦋 January, X CEO Linda Yaccarino said that X Money would debut in partnership with Visa and allow users to connect their debit cards to make peer-to-peer payments.The world's richest man has phantasised about making X a multi-purpose "everything app" where people can pay for things.
My take:The biggest hurdle for a payment solution on X is Musk. He lost so much trust:He f*ed up X, made it a ultra right paradise, his free speech absolutism led to rising misinformation, hate speech, losing major advertisers and user trust.He also left DOGE in chaos. Supports extreme right parties in Europe and is surprised that Tesla sales are down. Darling, right wingers don't believe in electric cars and are drill baby drill fans, that doesnt go together with Tesla. 🦋
Anyway, X Money would essentially function as a digital wallet, with Visa enabling users to fund those wallets from their bank accounts and then use it as they would other peer-to-peer services like Venmo. Cryptos have so far not been mentioned, however Musk is crypto friendly so we can expect cryptocurrencies playing a role in the long run. Wonder if Musk deplatforms people like journalists, or people he simply dislike, did that. And if now X money is involved, the mess is even bigger.We need more than ever (and not narcistic super rich explaining the world to us) 🦋