Cardano CEO Charles Hoskinson Offers to Build Decentralized “Twitter” for Elon Musk

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Last Updated on 15 April 2022 by CryptoTips.eu

Jeroen Kok

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Since Tesla CEO Elon Musk decided to buy roughly 10% of Twitter’s stake, the crypto space has been anxious to see how he would use his influence on Twitter to help support crypto, particularly Dogecoin. 

The anticipation of Musk’s actions for crypto increased when he was offered a place on the company’s board of directors, an offer he turned down. Shortly after that, the company revealed in a securities filing that the billionaire investor wants to acquire Twitter for over $43 billion. His reason? To make Twitter “maximally trusted”.

I believe free speech is a societal imperative for a functioning democracy. I now realize the company will neither thrive nor serve this societal imperative in its current form

Musk said in the filing. 

For some reason though, investors doubt that the deal will pull through. However, Twitter said it will assess the offer and see if it is in the best interest of shareholders before probably negotiating a better offer.

Advertentie.

Should the deal not go through 

Elon Musk seems to be liked by most people, including founders in crypto space. One of them, Charles Hoskinson who is the Co-Founder and CEO of Cardano has offered to build a decentralized “Twitter” for Musk should the offer to buy Twitter not go through.

Elon, if Twitter rejects your offer, then hit me up. Happy to build a decentralized one.

Hoskinson wrote on Twitter.

As Musk’s stated reason for acquiring Twitter is to make it maximally trusted, there is no better way to achieve this aim than to build a decentralized one based on blockchain technology. This will make room for free speech indeed as no one will have the power to suspend anyone for expressing themselves freely.

Musk is yet to respond to the offer though and everyone is eagerly waiting for the out of the offer he made to Twitter. It will be one of the most significant events of 2022 if he finally acquires Twitter, but some are wondering how a company owned by one man can protect freedom of speech.