Cardano founder offers to help Elon Musk build a decentralized social network
Cardano founder offers to help Elon Musk build a decentralized social network
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Cardano founder offers to help Elon Musk build a decentralized social network

By Stefania Stimolo - 15 Apr 2022

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Cardano founder Charles Hoskinson has asked Elon Musk to work together to build a decentralized social media platform that would respond to the Tesla CEO’s much sought-after “freedom of speech” and expand the use of ADA. 

Cardano’s founder and the offer to Elon Musk, a decentralized social network

As usual, the richest man in the world and CEO of Tesla and SpaceX, Elon Musk, is making waves. 

After his participation in Twitter as a majority shareholder and his refusal to be part of the social network’s board of directors, Musk has repeatedly stressed his desire to have his own social network that would respond to the need for “freedom of speech” in the US. 

Musk’s latest offer to Twitter sees him increase his stake to purchase the company at $54.20 per share. 

Other actors in the market have used Twitter to offer Musk new opportunities. These include the founder of Cardano, Charles Hoskinson, who proposed to build a new decentralized social media platform together

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

The potential of decentralized social media

decentralized social media

The idea of Cardano’s Hoskinson would be to partner with Musk to launch a decentralized social media platform that would support, on the one hand, “free speech” and on the other, ADA as an eventual method of payment

Some have even speculated that the crypto community would leave Twitter to migrate to this potential new platform based on “decentralization”. 

In this scenario, Cardano’s founder is not the only crypto actor to have actively engaged with Musk’s tweets. 

Jackson Palmer, the co-founder of Musk’s favourite memecoin, Dogecoin (DOGE), has also intervened, albeit with a criticism towards the Tesla CEO

“It takes some pretty impressive mental gymnastics to associate any type of “freedom” with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private”.

Social media and free speech

It’s been since late March that the association of Elon Musk and social media has literally been flooding the web. The world’s richest man is said to have expressed his desire to have his own social network to give voice to “freedom of speech” which, with today’s social media, is often censored. 

Not surprisingly, some time ago, Twitter silenced even Donald Trump, failing in his “freedom of thought” but consistent with the policies that block the profiles of those who feel “at liberty to insult”. 

At the moment, social media such as Meta, Twitter, Tik Tok, LinkedIn and a few others are monopolized by a few big players who can close and block profiles that do not comply with their rules, perhaps with accusations of spreading hatred or false news. 

Certainly with freedom of speech and thought, as Musk’s social network would be, one could find Russian media channels that have been blocked on major social networks, such as RT or Sputnik. How to interpret this “freedom”? 

 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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