Elon texted his brother Kimbal Musk, an entrepreneur and Tesla board member, on Apr. 9: I have an idea for a blockchain social media system that does both payments and short text messages/links like twitter. You have to pay a tiny amount to register your message on the chain, which will cut out the vast majority of spam and bots. There is no throat to choke, so free speech is guaranteed.
The second piece of the puzzle is a massive real-time database that keeps a copy of all blockchain messages in memory, as well as all message sent to or received by you, your followers and those you follow.
Third piece is a twitter-like app on your phone that accessed the database in the cloud.
This could be massive
Kimbal Musk: I’d love to learn more. I’ve dug deep on Web3 (not crypto as much) and the voting powers are amazing and verified. Lots you could do here for this as well
Would have to pay w a token associated with the service? You’d have to hold the token in your wallet to post. Doesn’t have to be expensive, it will grow over time in value
Blockchain prevents people from deleting tweets. Pros and cons but let the games begin!
If you did use your own token, you would not needs advertising it’s a pay for use service but at a very low price
With scale it will be a huge business purely for the benefit of the users. I hate advertisements
There are some good ads out there. The voting component of interested users (only vote if you want to) could vote on ads that add value. The advertisers would have to stake a much larger amount of tokens, but other than that there is no charge for the ads. It will bring out the creatives and the ads can be politically incorrect/art/activision/philanthropy
Voting rights could also crowdsource kicking scammers out. It drives me crazy when I see people promoting the scam that you’re giving away Bitcoin. Lots of bad people out there
Image and article originally from www.cnbc.com. Read the original article here.