Elon Musk wanted to build a blockchain social network before buying Twitter

While Elon Musk’s purchase of Twitter has fallen through, new information indicates that the billionaire was looking for a blockchain-based social network. The document shows messages that Musk exchanged between January and June of this year.

On the other side are names like Jack Dorsey and Parag Agrawal of Twitter, Sam Bankman-Fried of the FTX brokerage, as well as his right-hand man Jared Birchall and his brother Kimball Musk.

Musk’s excuses at the Twitter takeover may indicate that the billionaire still has this idea in his head. However, free speech could be heading in the same direction as Truth, a social network launched by Donald Trump this year that didn’t attract many people.

Elon Musk’s blockchain social network

While one of Elon Musk’s main excuses for not completing the Twitter purchase is the sheer number of bots and spam on the platform, his dream was to make the social network synonymous with free speech.

However, a new document linked to the Twitter lawsuit reveals that the richest man in the world is considering using blockchain to solve both cases. In a message to his brother Kimball, Elon explains how this social network would work.

“I have an idea for a blockchain social media system with payments and SMS/short links like Twitter. You have to pay a small amount to register your message in the chain, which eliminates the vast majority of spam and bots. There is no throat to strangle, so freedom of expression is guaranteed.”

He then points out that this would work like an application like Twitter, but with the database in the cloud. “This can be huge”Musk writes in his third message.

“I believe there is a need for a new blockchain-based social media company that includes payments.”

In response, Kimball says he is researching web3 in depth. It also notes that using its own token on such a platform would ensure that it does not need any ads. However, keep in mind that the publications could not be removed, which could also have negative points.

“Blockchain prevents people from deleting tweets. Pros and cons, but let the game begin!”

Among these reports, Elon Musk appears to be arguing with Parag Agrawal. As the Twitter CEO complains about Musk’s tweets criticizing the platform, the billionaire wonders what the CEO did that week.

Conversations Between Elon Musk and Sam Bankman-Fried of the FTX Brokerage

On another page, you can see messages exchanged between Sam Bankman-Fried and Elon Musk. Once again, the intention to use blockchain technology to host messages appears.

“By the way, Elon – I’d love to talk about Twitter. Here’s a post on how blockchain + Twitter could work.”

Then SBF sends a link to a series of tweets own, in which the CEO of FTX describes how this could be done. However, there has been no response from Musk’s side of the document.

Finally, such a project would also save the billionaire money. As stated by live coins in April, Elon Musk could have bought 1,000,000 bitcoins with the $44 billion he bought from Twitter, and there would have been a few million left.