Twitter Will Compete With Traditional Financial System: Elon Musk

Twitter Will Compete With Traditional Financial System, Confirms Elon Musk

With alternate ways of managing finances coming into being, the traditional financial system seems to be going obsolete.

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Elon Musk confirmed this very fact in a recent Twitter Space, where he highlighted the downsides of the systems.

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He took the moment to call the current financial system ‘highly inefficient’, centralised, and heterogeneous.

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He also mentioned that platforms have a lot of scope for improvement and another new system could be created to fill the shoes.

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What is worth noting is that Elon Musk is planning to convert Twitter into an “everything app” called X.

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Musk and his team will eventually introduce payments throughout the platform to accommodate their ‘everything app’ goal.

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The platform has already started applying for regulatory licenses to enter into the U.S. payments business.

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