Cardano’s Charles Hoskinson Predicts Crypto Will Play Significant Role in Elon Musk’s Twitter Takeover

Cardano (ADA) creator Charles Hoskinson thinks Elon Musk “has every intention” of integrating crypto into Twitter.

At a Web Summit Event this month, Hoskinson predicted that Musk’s Twitter ownership will bring crypto to 200 million people.

He speculated that Twitter could integrate with one of Musk’s favorite cryptos, Dogecoin (DOGE), but noted that DOGE’s technology at the moment couldn’t scale to deploy to 200 million people.

Hoskinson said “it would be a lot of fun” to make Dogecoin a sidechain of Cardano or at least build a bridge between the two projects to help DOGE scale. He also, however, speculated that Binance’s $500 million investment in Musk’s Twitter takeover had something to do with competing for that role.

“I don’t have any information on it, but if I had to guess, I think that’s what Binance is pushing for… You put a half-billion dollars into it, that’s a pretty big check size if it’s just a passive investment.

I think there’s every intention to be a part of the crypto conversation. You can either be part of the infrastructure side, the liquidity side, as a regulated financial actor – there’s a litany of things you can do. And for a platform as large and pervasive as Twitter, you need all of the above…

You need wallet solutions, you need exchanges, you need algorithms to curate information [and] you need smart contract capabilities. NFTs [non-fungible tokens] could play a major role because you could represent an account or information as an NFT.” 

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines
&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Jorm S