Elon Musk wonders over possible variations of the social network in a string of text messages.
Former CEO and co-founder of the birdsite Jack Dorsey advised the Tesla CEO that the microblogging platform should be based on a "open source protocol, sponsored by a foundation" during Elon Musk's acrimonious attempt to acquire Twitter.
The idea was discovered during the legal discovery phase of Musk's ongoing court battle with Twitter and its Board of Directors, who are trying to hold the billionaire to his promise to purchase the site. An archive of text communications between Musk and a number of well-known tech figures, including Dorsey, FTX CEO Sam Bankman-Fried, Oracle co-founder Larry Ellison, and investor-podcaster Jason Calcanis, is one of the case's exhibits.
Internal Tech Emails noticed the archive, which was extracted from court records designated Exhibit H and J, and New York Times reporter Kate Conger published it. Prior to Dorsey's resignation from Twitter's board, Musk and Dorsey exchanged texts in which Musk referred to Dorsey's declared vision as "very fascinating."
Dorsey argued that funding for Twitter should come from a foundation that has no influence over the underlying, open protocol rather than keeping it under the traditional corporate ownership model.
Similar to what Signal has done, said Dorsey. According to Dorsey, having an advertising model creates a surface area that the government and marketers will attempt to influence and control. "It will be attacked if it has a centralized entity behind it," he warned.
FTX CEO Sam Bankman-Fried wrote, "Btw Elon." Would love to discuss Twitter and write a piece about how blockchain-Twitter might function.
Musk mentioned his proposal for a blockchain-based social media platform that "does both payments and brief text message/links like Twitter" in one message.
According to Musk, the concept is to charge users a little fee to register a message on-chain, which will reduce the majority of spam and bots.
Free speech is assured because there is no neck to choke, he stated.
Anthony Rose, the head of engineering of Matter Labs and a former engineering manager at SpaceX, was one of the individuals that Musk was recommended to run the possible project.
Musk also proposed using Dogecoin, one of his preferred cryptocurrencies, on the system. Musk suggested that posting or reposting comments cost 0.1 Doge. According to him, "My Plan B is a blockchain-based Twitter, where the 'tweets' are embedded in the transaction as comments."
The concept of free expression on the blockchain has existed for a while, according to Musk. The main concerns are with how to put it into practice.
Musk continued, "Unless those 'peers' are really massive, therefore negating the notion of a decentralized network," a peer-to-peer network cannot fulfill the bandwidth and latency requirements.
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